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Elevating You and Your Travel Business… One Course At A Time

How to Start a Profitable Travel Agency from Home: A Step-by-Step Guide

To start a travel agency, first define your niche. Conduct market research to find trends. Create a clear business plan. Seek funding and complete legal registration. Consider training to improve your knowledge. Focus on enhancing customer experience. Stay updated with travel tools and be aware of your competition.

After planning, choose a suitable business structure. You can operate as a sole proprietor or establish an LLC for liability protection. Register your business and acquire any necessary licenses. This step is crucial to operate legally and build trust with clients.

Next, establish your online presence. Design a user-friendly website that showcases your services and destinations. Use social media to engage with potential clients and share valuable travel tips. Building a mailing list can also help you reach your audience effectively.

Finally, network within the travel industry. Establish relationships with suppliers and other agents. Attend travel expos and workshops to keep updated. By following these steps, you set the foundation for a successful travel agency from home.

Now that you understand the basics, let’s explore effective marketing strategies to attract clients and grow your business further.

Table of Contents

What Are the Essential Steps to Start a Profitable Travel Agency from Home?

To start a profitable travel agency from home, you should follow essential steps that include market research, business planning, legal setup, marketing strategy, and customer service.

• Conduct Market Research
• Create a Business Plan
• Set Up Legal Structure
• Develop a Marketing Strategy
• Focus on Customer Service

Conducting market research is key to understanding your target audience and competition. Building a solid business plan helps outline your goals and strategies. Setting up a legal structure is crucial for compliance and protection. A well-thought-out marketing strategy attracts clients. Providing excellent customer service ensures client satisfaction and repeat business.

1. Conduct Market Research:

Conducting market research involves gathering data on your potential clients, competitors, and industry trends. Identify your target market, which could be families, solo travelers, or luxury seekers. According to a 2021 survey by the American Society of Travel Advisors (ASTA), 86% of travel advisors noted that understanding client preferences is vital for success. Utilize online tools, surveys, and social media to collect insights. Analyzing competitor offerings enables you to differentiate your services. For example, if most agencies focus on budget travel, consider specializing in luxury trips or eco-tourism.

2. Create a Business Plan:

Creating a business plan outlines your agency’s vision, mission, services, and financial projections. This document serves as a roadmap for your agency’s growth and is often required for funding. According to the U.S. Small Business Administration, a solid plan increases your chances of success by 30%. Include potential expenses, pricing strategies, and revenue forecasts. A case study from Travel Leaders Group illustrates the importance of a business plan; agencies with structured plans grew 25% more than those without.

3. Set Up Legal Structure:

Setting up a legal structure involves choosing the appropriate business entity, like a sole proprietorship or LLC. This decision impacts your taxes, liability, and regulatory requirements. For example, an LLC can protect your personal assets if your business incurs debts. According to the IRS, proper classification can save tax costs. It is also essential to obtain necessary licenses and permits, such as a seller of travel license in certain states. Consulting with an attorney or a business advisor can help clarify the best structure for your agency.

4. Develop a Marketing Strategy:

Developing a marketing strategy encompasses online and offline promotion methods. Utilize social media platforms like Instagram and Facebook to reach potential travelers. Email marketing is a cost-effective tool to share offers and travel tips. According to HubSpot, companies that prioritize blogging are 13 times more likely to achieve a positive ROI. Attend travel expos and join industry associations for networking benefits. Consider running promotions or offering referral discounts to attract initial clients, as noted by the Travel Industry Association.

5. Focus on Customer Service:

Focusing on customer service involves creating a positive experience for your clients. Respond promptly to inquiries and provide personalized travel packages. A study by Zendesk in 2022 revealed that 82% of consumers view customer service as a key factor in their choice of a company. Implement a feedback system to improve services continually. Strong customer relationships foster loyalty and referrals, which are essential for long-term success. For instance, many successful agencies rely on word-of-mouth recommendations to grow their client base.

How Do You Find a Profitable Niche for Your Travel Agency?

To find a profitable niche for your travel agency, identify your target market, analyze market demand, assess competition, and leverage personal interests and expertise.

Identifying your target market is crucial. Consider demographics such as age, income, and travel preferences. For instance, millennials may prefer adventure travel, while retirees might seek luxury accommodations. According to a report by Statista (2023), millennials contributed to 20% of all travel bookings.

Analyzing market demand involves researching trends and consumer behavior. Tools like Google Trends and travel industry reports can help you understand what types of travel experiences are gaining popularity. A study by Allied Market Research (2022) revealed that the adventure tourism market is projected to grow by over 30% by 2027, indicating a demand for unique travel experiences.

Assessing competition is important to differentiate your agency. Review competitors’ offerings, pricing, and marketing strategies. Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify your advantages. According to IBISWorld (2023), the travel agency industry is increasingly competitive, with over 80% of agencies specializing in specific niches to stand out.

Leveraging personal interests and expertise can enhance your niche selection. If you have a passion for culinary experiences, consider focusing on food-related travel packages. A survey by Travel Leaders Group (2021) reported that 23% of travelers sought culinary experiences as a primary factor for travel.

By synthesizing these elements—target market analysis, market demand evaluation, competition assessment, and personal passions—you can effectively find a profitable niche for your travel agency.

What Guidelines Should You Follow to Create a Winning Business Plan?

To create a winning business plan, you should follow key guidelines that ensure clarity, structure, and thoroughness.

• Define your vision and mission.
• Conduct thorough market research.
• Develop a solid marketing strategy.
• Outline your organizational structure.
• Prepare detailed financial projections.
• Set clear objectives and milestones.
• Include an executive summary.
• Revise and edit your plan regularly.

These points highlight crucial components necessary for a strong business plan. Understanding each element’s significance can help in conceptualizing a successful strategy.

Defining Your Vision and Mission : Defining your vision and mission establishes the foundation of your business plan. The vision describes your long-term goals, while the mission outlines your purpose and core values. A well-articulated vision can motivate stakeholders. For example, Nike’s mission focuses on bringing inspiration and innovation, guiding its strategic decisions toward customer engagement.

Conducting Thorough Market Research : Conducting thorough market research identifies and analyzes your target audience, competitors, and industry trends. This research informs the potential market demand for your products or services. According to a 2020 report by Statista, 79% of successful enterprises attributed their growth to accurate market analysis. Utilizing tools like surveys and industry reports enhances the depth of your findings.

Developing a Solid Marketing Strategy : Developing a solid marketing strategy outlines how you will attract and retain customers. Your strategy should include pricing, positioning, promotion, and distribution channels. For instance, the 4 Ps of marketing—product, price, place, and promotion—provide a comprehensive framework. A case study on Apple demonstrates the effectiveness of innovative marketing in creating brand loyalty.

Outlining Your Organizational Structure : Outlining your organizational structure details the roles and responsibilities of your team. A well-structured organization facilitates communication and efficiency. Use an organizational chart to visualize team dynamics. In a study by Harvard Business Review, companies with clear structures achieved 25% higher employee satisfaction and productivity.

Preparing Detailed Financial Projections : Preparing detailed financial projections estimates revenues, expenses, and profits over a specific period. This includes cash flow statements, income statements, and balance sheets. According to the Small Business Administration, 20% of new businesses fail due to cash flow issues. Financial models can predict various scenarios, helping prepare for uncertainty.

Setting Clear Objectives and Milestones : Setting clear objectives and milestones provides measurable targets to achieve within specific timeframes. SMART criteria (Specific, Measurable, Achievable, Relevant, Time-bound) should guide these goals. Research shows that companies with defined objectives see a 23% increase in employee performance (Locke & Latham, 2002).

Including an Executive Summary : Including an executive summary offers a concise overview of your entire business plan. This section should capture the reader’s attention and highlight key components, compelling them to read further. According to entrepreneur Michael E. Gerber, a well-crafted summary can lead to higher chances of securing funding.

Revising and Editing Your Plan Regularly : Revising and editing your plan regularly is crucial for keeping it relevant and aligned with changing market conditions. A business should adapt its plan as it grows or encounters new challenges. Continuous improvement fosters resilience, as seen in many successful startups that pivot based on feedback.

By adhering to these guidelines, you can create a business plan that captivates investors and serves as a roadmap for your enterprise’s success.

What Licenses and Permits Do You Need to Legally Operate a Travel Agency?

To legally operate a travel agency, you need specific licenses and permits, which vary by location and type of services offered.

• Business License
• Seller of Travel License
• IATA Certification
• CLIA Registration
• State-Specific Permits

These requirements can differ based on state laws and whether the agency offers travel packages, domestic or international travel, or specialized services.

Business License : A business license is necessary to formally operate a travel agency. It allows you to register your business with the local government. According to the U.S. Small Business Administration (2020), failing to obtain a business license can result in penalties or closure of your agency. For example, in California, a business license is typically issued by the city in which the agency operates.

Seller of Travel License : The Seller of Travel License is mandated in certain states for businesses that sell travel services. It protects consumers by ensuring that travel agencies meet state regulations. States such as California and Florida require this license. The California Department of Justice states that this license must be renewed every two years and involves a fee.

IATA Certification : IATA stands for the International Air Transport Association. An IATA certification allows travel agencies to sell airline tickets. This certification ensures compliance with global travel industry standards. According to the IATA website, agencies with this certification can access airline products and gain credibility among customers.

CLIA Registration : CLIA, or the Cruise Lines International Association, registration is essential for agencies specializing in cruise travel. This membership provides access to training and resources specific to cruise sales. CLIA states that this certification enhances marketability and knowledge of cruise offerings.

Insurance : Insurance, such as general liability and errors and omissions insurance, is recommended for travel agencies. This protects the agency against claims of negligence or mistakes. The American Society of Travel Advisors (ASTA) encourages agencies to carry this insurance to mitigate financial risks.

State-Specific Permits : State-specific permits may apply depending on the services offered. Some states have additional regulations regarding travel arrangements, including bonding requirements. For instance, New York requires a state bond for travel agencies to safeguard consumer funds.

In summary, each of these licenses and permits plays a critical role in ensuring compliance, protecting consumers, and providing credibility to your travel agency. It’s vital to research your specific state requirements, as they can vary significantly.

How Do You Register Your Travel Agency with the Necessary Authorities?

To register your travel agency with the necessary authorities, follow these key steps: choose a business structure, obtain a business license, register with relevant tourism boards, apply for insurance, and comply with local tax requirements.

Choose a business structure: Decide whether your travel agency will operate as a sole proprietorship, partnership, or corporation. Each structure has different legal implications and tax responsibilities. According to the U.S. Small Business Administration (2020), a sole proprietorship is the simplest form but offers less liability protection.

Obtain a business license: Contact your local government office to find out if you need a business license to operate your travel agency. Licensing requirements differ based on location and may include filing fees and specific documentation.

Register with relevant tourism boards: Research if your region requires registration with local or national tourism boards. This step may involve filling out an application and providing proof of your agency’s legitimacy. For instance, in the United States, the Department of Transportation may regulate certain aspects of travel agencies.

Apply for insurance: Secure liability insurance to protect against potential claims arising from travel-related services. The Insurance Information Institute (2021) recommends that business owners evaluate different coverage options to ensure adequate protection for their agency.

Comply with local tax requirements: Register for an employer identification number (EIN) with the IRS if you plan to hire employees. Additionally, check with your state and local tax agencies to understand your tax obligations. According to IRS guidelines (2023), it is crucial to stay informed about ongoing tax responsibilities for your business.

Completing these steps ensures your travel agency operates legally and can provide necessary protections for you and your clients.

What Are the Start-Up Costs Involved in Launching a Travel Agency from Home?

Starting a travel agency from home involves several start-up costs. These costs can vary widely based on location, services offered, and business model.

• Business registration and licensing
• Marketing and advertising
• Office supplies and equipment
• Website development and hosting
• Travel agency software
• Training and certifications
• Membership fees for industry associations

These start-up costs can add up quickly, and various perspectives exist regarding the necessity and allocation of these expenses.

Business Registration and Licensing : Starting a travel agency from home requires obtaining the appropriate legal permits, which may vary by state or country. This involves applying for a business license and possibly a seller of travel license. These fees can differ significantly based on the jurisdiction.

Marketing and Advertising : Marketing is critical for attracting clients. Expenses may include online ads, print materials, or social media campaigns. A study by the American Marketing Association (2021) indicates that small businesses allocate approximately 7-8% of their revenue to marketing efforts.

Office Supplies and Equipment : Essential tools include a computer, printer, and office supplies. According to the Small Business Administration (SBA), initial costs for office equipment can range from $2,000 to $5,000.

Website Development and Hosting : An online presence is crucial. This cost can vary from a few hundred to several thousand dollars, depending on whether you build the website yourself or hire a professional. A 2020 survey by Clutch found that 46% of small businesses spend between $1,000 and $5,000 on their websites.

Travel Agency Software : Specialized software helps manage bookings and client information. These programs often include a subscription fee, which can range from $50 to $300 monthly.

Insurance : Insurance protects the business from potential liabilities. The costs for general liability insurance can vary, but on average, it typically costs around $500 to $1,000 annually.

Training and Certifications : Acquiring knowledge through training can enhance credibility. Courses or certifications may incur fees ranging from a few hundred to a few thousand dollars.

Membership Fees for Industry Associations : Joining professional associations can provide resources and networking opportunities. Membership fees can vary widely, often costing anywhere from $100 to $1,000 annually.

In conclusion, while the initial investment for launching a home-based travel agency can seem daunting, careful planning and budgeting can significantly impact success.

How Can You Effectively Market Your Travel Agency Online?

To effectively market your travel agency online, focus on creating a user-friendly website, leveraging social media platforms, utilizing email marketing, and optimizing your content for search engines.

Creating a user-friendly website is crucial for attracting and retaining customers. A well-designed site should load quickly and be easy to navigate. According to Google’s research (2021), 53% of mobile users abandon sites that take longer than three seconds to load. Include essential features like clear contact information, travel package details, online booking options, and customer testimonials. A site that is approachable enhances the user experience and encourages bookings.

Leveraging social media platforms can significantly improve your visibility. Effective strategies include posting engaging content such as travel tips, destination highlights, and customer experiences. HubSpot (2020) found that 77% of consumers are more likely to buy from a brand they follow on social media. Regular interaction with followers through comments and messages builds a community and establishes trust.

Utilizing email marketing allows you to reach your audience directly. Build an email list by offering incentives like discounts or free travel guides. Send regular newsletters featuring special offers, travel updates, and personalized recommendations. A study by Campaign Monitor (2019) indicates that email marketing can yield an average return on investment of $42 for every $1 spent.

Optimizing your content for search engines, known as Search Engine Optimization (SEO), ensures that potential customers find your travel agency. Research relevant keywords that potential clients might use to search for travel services. Incorporate these keywords naturally into your website content, blog posts, and social media. According to Moz (2021), websites that appear on the first page of search results receive 71% of clicks, underscoring the importance of good SEO practices.

By focusing on these strategies, you can enhance your travel agency’s online presence, attract more customers, and ultimately increase bookings.

Which Digital Tools Can Help Optimize Your Marketing Strategy?

Digital tools can significantly enhance your marketing strategy by automating processes, analyzing data, and improving customer engagement.

• Content Management Systems (CMS)
• Customer Relationship Management (CRM)
• Social Media Management Tools
• Email Marketing Software
• Analytics and Reporting Tools
• Search Engine Optimization (SEO) Tools
• Pay-Per-Click (PPC) Advertising Platforms
• Marketing Automation Software

These tools provide a variety of functionalities that cater to different marketing needs, and choosing the right combination can lead to a more effective strategy.

Content Management Systems (CMS): Content Management Systems (CMS) enable businesses to create, manage, and modify digital content easily. Popular platforms like WordPress and Joomla are examples of CMS that streamline the process of building websites. According to W3Techs, WordPress powers over 40% of all websites. A well-structured CMS allows brands to publish content regularly, which improves SEO and engages customers. Companies such as BBC and Time Magazine use CMS to manage their extensive content libraries efficiently.

Customer Relationship Management (CRM): Customer Relationship Management (CRM) systems help businesses manage interactions with current and potential customers. Platforms like Salesforce and HubSpot consolidate customer data to enhance communication and nurture leads. According to a study by Nucleus Research, every dollar spent on CRM results in an average return of $8.71. Effective use of CRM tools enables businesses to personalize marketing strategies and raise customer satisfaction.

Social Media Management Tools: Social Media Management Tools, such as Hootsuite and Buffer, assist brands in managing multiple social channels from one platform. These tools allow users to schedule posts, track engagement, and analyze performance metrics. A report by Sprout Social indicates that 79% of consumers prefer to engage with brands on social media. Efficient management of social media presence enhances brand awareness and customer loyalty.

Email Marketing Software: Email Marketing Software, like Mailchimp and Constant Contact, provides businesses with email campaign automation and analytics. According to Campaign Monitor, email marketing generates an average return on investment (ROI) of $44 for every $1 spent. Tailored email campaigns can maintain customer interest and drive conversions, making email marketing a critical component of any marketing strategy.

Analytics and Reporting Tools: Analytics and Reporting Tools, such as Google Analytics and Tableau, track website performance and user behavior. These tools help businesses make data-driven decisions. A survey by Deloitte revealed that data-centric companies are 5 times more likely to make faster decisions than their competitors. Utilizing analytics leads to improved targeting and better marketing strategies.

Search Engine Optimization (SEO) Tools: Search Engine Optimization (SEO) Tools, including SEMrush and Ahrefs, analyze website performance to improve search engine rankings. SEO increases organic traffic, which is vital for brand visibility. According to HubSpot, 61% of marketers say improving SEO and growing their organic presence is their top inbound marketing priority. These tools help businesses stay competitive in their market.

Pay-Per-Click (PPC) Advertising Platforms: Pay-Per-Click (PPC) Advertising Platforms, such as Google Ads and Bing Ads, allow businesses to promote their products through paid advertisements. By targeting specific keywords, companies can reach their audience effectively. The WordStream blog notes that businesses make an average of $2 in revenue for every $1 spent on Google Ads. PPC advertising is an efficient way to generate quick traffic and increase sales.

Marketing Automation Software: Marketing Automation Software, such as Marketo and Pardot, automates repetitive marketing tasks. This includes lead generation, nurturing, and scoring. According to HubSpot, marketing automation can help increase leads by 451%. By automating these processes, businesses can focus on strategy and creativity, leading to greater efficiency and effectiveness in their marketing efforts.

How Do You Build Strong Relationships with Suppliers and Clients in the Travel Industry?

Building strong relationships with suppliers and clients in the travel industry requires consistent communication, mutual respect, and collaboration. Key strategies include establishing trust, transparent communication, regular engagement, and providing value-added services.

Establishing trust: Building trust is essential for long-term partnerships. Suppliers and clients need to feel confident that you understand their needs. According to a 2020 study by the Oxford Business Group, 78% of successful partnerships in the travel industry cited trust as a crucial factor.

Transparent communication: Open and honest communication fosters better relationships. It involves sharing important updates, discussing challenges, and providing clear expectations. A survey by Travel Weekly (2021) found that 65% of clients valued suppliers who communicated openly.

Regular engagement: Maintaining consistent interaction helps strengthen relationships. This can include scheduling regular check-ins, updates, or feedback sessions. A study by McKinsey & Company (2019) highlights that companies engaging regularly with clients see 30% higher satisfaction rates.

Providing value-added services: Offer extra services or insights that benefit your suppliers and clients. This could involve personalized travel experiences, exclusive deals, or insightful market trends. Research from Phocuswright (2022) suggested that 57% of customers prefer providers who offer unique and personalized options.

By focusing on these strategies, travel industry professionals can build and maintain strong relationships with both suppliers and clients, leading to increased loyalty and success.

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Travel Agency

Back to All Business Ideas

How to Start a Travel Agency – Learn from Real Entrepreneurs

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on December 13, 2021

Investment range

$2,150 - $10,600

Revenue potential

$78,000 - $300,000 p.a.

Time to build

0 – 3 months

Profit potential

$62,000 - $90,000 p.a.

Industry trend

Starting your travel agency? Here are the most vital considerations:

• Choose a location — Select a location that is easily accessible for clients and employees. Consider whether you will operate from a home office, a commercial space, or offer remote services.
• Niche — Decide on the types of travel services you will offer, such as leisure travel, corporate travel, group tours, cruises, and destination weddings. Consider whether you will specialize in specific niches, such as adventure travel , luxury travel, or eco-friendly trips.
• Travel agent certification — Consider obtaining travel agent certifications such as those from the International Air Transport Association (IATA) or The Travel Institute to enhance credibility and access to industry resources.
• Booking software — Invest in travel booking software and tools to manage reservations, itineraries, and client information. Look for solutions that integrate with global distribution systems (GDS) for access to flights, hotels, and car rentals.
• Register your business — A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple. Form your business immediately using ZenBusiness LLC formation service or hire one of the best LLC services on the market.
• Legal business aspects — Register for taxes, open a business bank account, and get an EIN .
• Website and online presence — Create a professional website showcasing your services, destinations, client testimonials, and contact information. Offer online booking options and maintain active social media profiles to engage with potential customers.
• Partnerships — Build relationships with airlines, hotels, tour operators, and other travel service providers to generate referrals and access exclusive deals.
• Learn from real entrepreneurs who run a travel agency:
• The Journey of Building a Premier Travel Agency with Casey Halloran
• How Zoom Vacations Found a Niche in Luxury Gay Travel

Interactive Checklist at your fingertips—begin your travel agency today!

You May Also Wonder:

Is a travel agency profitable?

If you run your online travel agency from home, you could have profit margins of up to 80%. Costs to run your travel agency are very low, and you’re paid around a 10% commission on everything that you book. As a home-based, one-person show, you could make $60,000 per year to start, and much more once you’re established.

Should I rent an office space for my travel agency?

Consumers are turning to online travel agencies more and more, which you could easily run from home. If your business grows fast and you need to add staff, you may want to have an office.

How can my travel agency compete with Expedia?

Some consumers prefer the personal service of a smaller online agency that can offer more local, personal insights about travel destinations. The key is to differentiate yourself in some way. You could specialize in certain locations, a specific type of lodgings, such as cabins, or in a type of vacation such as corporate retreats.

What are the main activities of a travel agency?

Travel agencies engage in activities such as providing travel advice, booking travel arrangements, managing logistics, and offering specialized services tailored to clients’ needs.

Is it hard to run a travel agency?

Running a travel agency can have challenges due to intense competition, evolving industry dynamics, regulatory considerations, seasonal fluctuations, and the need for customer satisfaction and crisis management. 

Step 1: Decide if the Business Is Right for You

Pros and cons.

Every business has its pros and cons, and a travel agency is no exception. You should weigh these carefully to decide if the business is right for you.

• Flexibility – Work from anywhere, even while traveling!
• Minimal Training – Get accredited for free online
• Travel Discounts – Travel agents get top deals and reduced prices
• Demanding Work – With clients around the world you’re on call 24/7
• Fierce competition – Top sites like Expedia, travel networks, advisors, and more

Travel agency industry trends

The US travel agency industry expanded an impressive 75% in the decade leading up to 2020, which saw a massive pandemic-driven downturn. 

In 2021, many travel agents saw a surge in business as travelers unsure of all the constantly changing Covid-19 rules and restrictions turn to them for help, rather than booking their own trips. Global travel advisor InteleTravel experienced a 35% increase in business, not from the disaster year of 2020, but from 2019, which had set records.(( https://www.nytimes.com/2021/04/14/travel/summer-vacation-travel-agents.html ))

Consumers are also turning more and more to online travel agencies, with a study by Expedia showing a 25% increase in the use of online agencies in 2020 alone. Brick-and-mortar agencies seem to be a dying breed, with British travel icon Thomas Cook closing in 2019.(( https://advertising.expedia.com ))

Industry size and growth

• Industry size and past growth – Market research firm IBISWorld values the industry at nearly $48 billion in 2022.(( https://www.ibisworld.com/industry-statistics/market-size/travel-agencies-united-states/ ))  
• Growth forecast – The industry is expected to grow further as the Bureau of Labor Statistics predicted a 5% annual growth through 2030 in the employment of travel agents.(( https://www.bls.gov/ooh/sales/travel-agents.htm )) 
• Number of businesses – More than 73,000 travel agencies are operating in the US.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/travel-agencies-united-states/ ))
• Number of people employed – The industry employs more than 250,000 people.(( https://www.ibisworld.com/industry-statistics/employment/travel-agencies-united-states/ ))

Trends and challenges

Trends in travel agency industry include:

• Home-stay rentals like Airbnb(( https://stepbystepbusiness.com/business-ideas/start-an-airbnb-business/ )) outperformed hotels in 27 top markets during the pandemic
• Book-now-pay-later options, such as those offered by Expedia and Booking.com, are gaining popularity
• Travel agencies undergoing digital transformation in response to the growing demand for online services

Challenges in travel agency industry include:

• Rising gas prices are impacting travel behavior
• Compliance with global Covid-19 protocols
• Keeping up with digital marketing opportunities

What kind of people work in a travel agency?

• Gender – 76% of travel agency managers in the US are female, while 24% are male. (( https://www.zippia.com/travel-agency-manager-jobs/demographics/#gender-statistics ))
• Average level of education – 64% of travel agency managers hold a bachelor’s degree.(( https://www.zippia.com/travel-agency-manager-jobs/demographics/#degree-level-types ))
• Average age – The average age of a travel agency manager is 51 years old.(( https://www.zippia.com/travel-agency-manager-jobs/demographics/#age-statistics ))

How much does it cost to start a travel agency?

The startup costs for a travel agency range from about $2,000 to $10,000, with an average of around $6,000. The high-end includes the rental of office space and a larger marketing budget, but you could easily run your online travel agency from home to cut costs.

How much can you earn from a travel agency?

The commission paid to a travel agency by travel vendors such as airlines and hotels is generally about 10%. Some travel agents also charge a nominal consultation fee for each booking, typically between $30 and $50. Those will be your two revenue streams.

The average cost of a one-week domestic vacation is $1,500 per person. The profit margin for a home-based travel agency is usually about 80%. With an office and staff, your margin will likely drop to about 30%.

In your first year or two, you could work from home and sell five two-person vacations each week. At a 10% commission, this would mean $78,000 in annual revenue. You’d have about $62,000 in profit, assuming an 80% margin.

As your brand gains recognition, sales could climb to 1,000 two-person vacations a year. At this stage, you would rent an office and hire staff, reducing your profit margin to 30%. With expected annual revenue of $300,000, you would make about $90,000.

What barriers to entry are there?

There are a few barriers to entry for a travel agency. Your biggest challenges will be:

• Competition – Big and small online firms; self-booking travelers
• Client Acquisition – Time and marketing will be required to build a reputation

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13 Steps to Start an Airbnb Business

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Step 2: hone your idea.

Now that you know what’s involved in starting a travel agency, it’s a good idea to hone your concept in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

As a travel agency, you need to find a way to differentiate yourself from the competition. Research online travel agents and booking platforms to see their offerings and prices, while keeping an eye out for something that might be missing.

Perhaps you could specialize in travel to an under-appreciated region, such as Southeast Asia, and build a network of relevant contacts and vendors. Or you could focus on finding travelers the most incredible home-stay rentals at the best prices.

You could specialize in family vacations, corporate retreats, or honeymoons. The potential niche options in the travel industry are nearly endless.

What? Determine your services and travel offerings

Travel can involve many facets, and you can handle some or all of them, in addition to flights, lodgings, and car rentals. These might include:

• Booking tours and excursions
• Dining recommendations/reservation
• Travel insurance
• Visa and emergency services

How much should you charge for travel agency services?

Travel vendors, such as hotels, airlines, and car rental firms, pay a commission to travel agents that’s generally about 10% of the booking. For instance, if you book a $1,200 flight on Turkish Airlines for your client, Turkish Airlines will give you, the travel agent, a $120 commission.

As a result, booking flights with a travel agent sometimes costs the traveler slightly more than booking directly with the airlines or through a travel site like Expedia or Orbitz. Thus, to attract customers and boost sales travel agents rely on discounted travel packages.

For instance, a return flight from Chicago to Cancun and a 6-day stay at a four-star all-inclusive resort, plus ground transport, might cost a traveler $1,000 or more to book directly. But travel agents get significant discounts from vendors because they place volume orders, so you’d be able to offer this trip as a $599 package deal.

Even after paying your commission, the traveler still saves a chunk of money by using your services, rather than booking themselves. And keep in mind, the discounts offered by vendors are likely to increase as you become a more established agent. You may be able to negotiate commissions from tour operators and excursion companies as well.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market will depend on the concept you’ve chosen for your agency. If you’ve decided to specialize in family vacations, you’ll be targeting parents. You might find them on sites like Facebook or LinkedIn, rather than Instagram or TikTok.

Where? Choose your business premises

In the early stages, you may want to run your business from home to keep costs low. But as your travel agency grows, you’ll likely need to hire workers and may need to rent out an office. You can find commercial space to rent in your area on Craigslist , Crexi , and Commercial Cafe .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Travel Agency Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better
• The name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “travel” or “bookings”, boosts SEO
• Choose a name that allows for expansion: “Wanderlust Adventures” over “Beach Bum Vacations” or “Honeymoon Haven Agency”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that set your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Travel Agency Business Plan

Here are the key components of a business plan:

• Executive Summary: Present an overview of your travel agency, highlighting its focus on providing personalized travel planning and booking services for various types of travelers.
• Business Overview: Describe the services of your travel agency, including custom travel itinerary planning, booking accommodations, flights, and special experiences.
• Product and Services: Detail the range of travel packages offered, such as luxury vacations, adventure tours, and corporate travel services.
• Market Analysis: Assess the current travel market, identifying target customer segments like families, honeymooners, or business travelers.
• Competitive Analysis: Compare your agency to others, focusing on your unique offerings like specialized destinations, personalized service, or exclusive deals.
• Sales and Marketing: Outline your strategy for attracting clients, using methods like online marketing, partnerships with travel providers, or attending travel expos.
• Management Team: Highlight the experience and expertise of your team in travel planning, customer service, and business management.
• Operations Plan: Describe the process of service delivery, from client consultation to trip execution and post-travel follow-up.
• Financial Plan: Provide an overview of financial aspects, including startup costs, pricing strategy, and anticipated income.
• Appendix: Include supplementary documents such as travel industry certifications, partnership agreements, or detailed client testimonials to support your business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to travel agencies.

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your travel agency will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just needs to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans : This is the most common method, but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans : The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants : A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Venture capital : Offer potential investors an ownership stake in exchange for funds, keeping in mind that you would be sacrificing some control over your business.
• Friends and Family : Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding : Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal : Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a travel agency. You might also try crowdfunding if you have an innovative concept.

Step 8: Apply for Travel Agency Licenses and Permits

Starting a travel agency requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your travel agency business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You may want to use industry-specific software to manage bookings and scheduling, such as TravelPerk , TravelCEO , and TravelOperations .

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

Your website should showcase your offerings, customer testimonials, and detailed information about destinations.

Your clients are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google.

Here are some powerful marketing strategies for your future business:

• Leverage Social Media : Use platforms like Instagram, Facebook, and Pinterest to share stunning travel imagery, customer stories, and travel tips. Engage with your audience through regular posts, stories, and responses to comments.
• Content Marketing : Start a blog or a YouTube channel providing valuable content like travel guides, tips, destination reviews, and travel trends. This not only helps in SEO but also establishes you as an expert in the field.
• Build Partnerships : Collaborate with local businesses in your chosen travel destinations, such as hotels, tour operators, and local attractions. This can lead to exclusive deals or packages that you can offer to your clients.
• Email Marketing : Collect emails through your website and social media channels and send out regular newsletters with travel tips, special offers, and new package announcements.
• Customer Reviews and Referrals : Encourage your clients to leave reviews on platforms like TripAdvisor or Google. Word-of-mouth referrals are powerful, so consider offering incentives for referrals.
• Attend Travel Expos and Events : Participate in travel expos, seminars, and networking events to build contacts and stay updated on the latest industry trends.
• Offer Personalized Services : Tailor your services to meet individual client needs. Personal touches can make a big difference in the travel industry.
• Utilize Paid Advertising : Invest in targeted ads on social media and Google to reach potential clients. This can be particularly effective when you have special offers or new packages to promote.
• Stay Informed and Flexible : The travel industry is dynamic, so it’s important to stay informed about global travel trends, destination updates, and customer preferences.
• Sustainable and Responsible Travel : With growing awareness about environmental and cultural impacts, promoting sustainable and responsible travel practices can set your agency apart.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your travel agency meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your travel agency could be:

• Travel to Asia’s best secret destinations
• The best local insights and insider adventures
• Vacations for the whole family, from grandma to the baby!

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a travel agency, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in travel agencies for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in travel. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a travel agency would include:

• Travel Agents – sales and bookings
• General Manager – scheduling, accounting, staff management
• Marketing Lead – SEO strategies, social media, other marketing

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Travel Agency – Start Making Money!

Owning a travel agency means sharing the joy of travel for a living. What could be more fun? It’s also a huge, high-growth industry that you could tap into and grow a profitable business. Startup costs are low, and all you need is a simple accreditation — there’s no real training required. You just need a good concept for your agency and a great marketing plan. Having a strong online presence in this digital age is also an absolute must.

You’ve started off on the right foot by reading this guide, and now you’re ready to begin your trip to entrepreneurial success!

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Travel Agency Name
• Create a Travel Agency Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business
• Apply for Travel Agency Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Travel Agency - Start Making Money!

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Small Business Trends

15 innovative travel business ideas for aspiring entrepreneurs.

As the world finally opens up for business, the beleaguered travel industry is getting its groove back. Not surprisingly, this is attracting a number of small business owners to explore travel business ideas.

What Are Travel Businesses?

Travel businesses primarily revolve around providing diverse services that facilitate and enhance the experience of traveling.

These services can range from arranging lodging accommodations, vehicle rentals for transportation, curated excursions, and immersive activities that allow travelers to deeply engage with the local culture.

While the travel sector primarily focuses on the logistics of transportation and lodging, it deeply intertwines with the broader tourism industry.

Together, they aim to create memorable experiences for tourists, catering to their varied preferences and ensuring a smooth journey from start to finish.

READ MORE: Build A Travel Business You Can Sell With These 5 Tips

Be sure to check out Income Hub’s article, “7 Travel Business Ideas Trending With Low Startup Costs,” after you’re done reading:

The Travel and Hospitality Industry

The unanticipated global pandemic wreaked havoc on the travel and tourism sector. Consequently, and for a prolonged two-year period, businesses worldwide faced unprecedented challenges as international and domestic movements came to an almost complete standstill.

However, there’s renewed optimism that this is the year the industry will make a triumphant comeback. The continued prevalence of flexible working arrangements has given birth to a new category of travelers – those combining work with leisure.

Responding to this change, the travel industry is innovating to integrate work-friendly environments, such as co-working spaces within hotels or resorts.

Furthermore, a significant shift towards sustainable travel is becoming increasingly evident. Today’s travelers are not just satisfied with basic eco-friendly initiatives. They are actively seeking out holistic, sustainable travel experiences.

This encompasses everything from choosing accommodations that practice waste reduction, opting for transportation methods with a smaller carbon footprint, to prioritizing dining options that serve vegan dishes and use locally-sourced ingredients.

Why You Should Consider Starting Your Own Business In Travel

From a commercial standpoint, this is perhaps the best time to start your own business in travel.

Let’s take a look at the factors that make this a lucrative business opportunity.

• Potential to earn more: As traveling regains popularity, there are abundant opportunities to increase your income.
• Choose your domain: Another great thing about starting a travel-related business is you have plenty of options to explore. For example, you may choose to specialize in a domain such as travel photography or travel consulting based on your interest.
• Do without an office: Thanks to digitalization, a number of small travel businesses have gone completely online. This saves these online business owners both time and money.
• Partner with other service providers: As a business owner in this sector, you don’t have to venture out alone. You can easily tie up with other service providers and offer a better deal to your customers.
• Low startup cost: Many small businesses prefer the travel industry because of the low startup cost. Depending on the scale you have in mind, you can keep your business profitable.

READ MORE: Small Business Ideas for Beginners

Our Methodology to Choose the Best Travel Business Ideas

When exploring travel business ideas, it’s crucial to choose concepts that are not only viable in the current travel market but also resonate with the entrepreneur’s interests and capabilities. Here’s the methodology we used to evaluate potential travel business opportunities:

Market Demand and Travel Trends (Rating: 9/10)

Assessing the current and emerging trends in the travel industry was our starting point. We focused on business ideas that cater to popular travel trends, such as eco-tourism, adventure travel, or luxury experiences.

Niche Market Opportunities (Rating: 8/10)

We looked for niches within the travel sector that offer unique opportunities. This includes specialized tour services, niche accommodation options, or catering to specific traveler demographics.

Low Initial Investment and Overhead (Rating: 7/10)

Considering the startup costs and ongoing operational expenses was crucial. We prioritized travel business ideas that require minimal initial investment and have manageable overhead costs.

Flexibility and Lifestyle Fit (Rating: 8/10)

The travel industry often allows for flexibility in terms of operation. We selected ideas that can adapt to the entrepreneur’s lifestyle, whether they seek full-time engagement or part-time involvement.

Profitability and Revenue Streams (Rating: 8/10)

Evaluating the potential for profit and diverse revenue streams was key. We looked for travel business ideas with a clear path to profitability, including opportunities for ancillary services and upselling.

Scalability and Expansion Potential (Rating: 7/10)

The potential for scaling and expanding the business was another important factor. We considered travel business ideas that can grow over time, either through geographical expansion, franchising, or diversifying services.

Personal Passion and Expertise (Rating: 8/10)

Finally, aligning the business with personal interests and expertise in travel is vital. We focused on ideas that match the entrepreneur’s passion for travel, enhancing their dedication and satisfaction.

By applying these criteria, we aimed to identify travel business ideas that not only promise profitability and market relevance but also align with the entrepreneur’s passion for travel and lifestyle preferences.

Popular Travel Business Ideas

Today, the travel business goes beyond setting up an agency. Thanks to customers who continue to look for better options, there are a number of profitable travel business ideas. Let’s explore some of these in detail.

1. Tour Guide Business

This is the ideal business idea if you don’t have the capital to invest in your business – at least not in the initial phase. To succeed, you should have knowledge about the location where you operate. You should also be based in a place that draws enough travelers.

2. Bed and Breakfast Business

If you want to turn your home into a business location, a bed and breakfast is the right option for you. To make it popular with many travelers, you need to offer a truly great experience. This includes having a real passion for hosting different people and making them feel comfortable during their stay.

3. Car Rental Business

Many travelers rely on cars to move around when they travel. For this reason, a car rental is the most obvious choice for many of these travelers. If you have experience with automobiles and their maintenance, this business can work for you.

4. Scooter Rental Business

Many leisure travelers prefer using scooters, especially when the weather is great outdoors. To be able to start this business, you should have at least 3-4 scooters. You should also have in-depth knowledge about scooters.

5. Travel Photography Business

If solopreneurship is your calling, starting a travel photography company is one of the obvious choices. As a travel photographer, you have the flexibility and freedom to travel, take pictures and make money. Moreover, if you’re truly talented, you can make a lot of money through the various stock photography websites.

6. Translation services

Another popular option for those who want to run their business independently is translation services. And this skill will come in handy when you are contending with customers coming from the outside. As such, your ability to converse fluently in more than one language is especially useful when you are in a busy town that sees a lot of travelers.

7. Medical Tourism

In recent years, medical tourism has become widely popular in various parts of the world. In addition to the modern medical sciences, many people are interested in holistic, traditional treatment options. It goes without saying you need to have the right credentials to be able to start this lucrative business.

8. Adventure Trips

Adventure tourism is a niche within the travel industry. Extremely popular with young people, it is a great service-based business. Generally, you will have to gain experience and credentials to start this type of business.

9. Event Planning

Another business model that pays pretty well is corporate event planning. As an event planner, you will be responsible for designing unique corporate events. Be that as it may, this is not a one-person business. You will need a personal assistant and some extra manpower to succeed.

10. Travel Blogging

Making money through their travel blog is a full-time job for a number of travelers. Therefore, if you have the passion to write and document your adventures, you can turn yourself into a social media influencer. Of course, competition on social media platforms is quite fierce, but with good content, you can easily stand out.

More Great Ideas for Traveling Businesses

With several options to choose from, zeroing in on the best travel business idea may seem challenging. The trick is to focus on where your passion truly lies. Let’s explore some more ideas for your business.

11. Coffee Shop

Travelers all over the world need coffee to keep themselves energized. A coffee shop, therefore, is a great idea to attract a client base. Your choice of location will matter greatly when you set up your shop.

12. Glamping Business

Glamping brings glamor to the fun outdoor activity of camping. The idea is to create a sophisticated ambiance for campers. Of course, you need a great location and the right services in place to succeed with this.

13. Kayak Tours

Many adventurous travelers enjoy kayaking. But since bringing a kayak is often not an option for them, they have to rely on local businesses. Fortunately, this is where you can make a difference and make money through adventure sports.

14. Water Taxi Service

Depending on the location, you can offer water taxi services to your customers. This business requires you to make a small capital investment.

15. Travel Agency

Setting up an agency is a great idea if you have the adequate knowledge and manpower to cater to your customer demands. Meanwhile, if you lack the manpower, you can work as an independent operator or partner with a major travel company.

READ MORE: How to Start a Travel Agency

Comparison of Popular Travel Business Ideas

To better assist aspiring entrepreneurs in selecting a suitable travel business venture, we’ve compiled a table that compares various business ideas based on their startup capital requirement and potential profitability:

Technological Adaptations in the Travel Business Landscape

As the travel industry continues to evolve, it is undeniable that technology-driven innovations are at the forefront of this transformation. From the emergence of smart hotels and immersive AR/VR experiences to the convenience of contactless solutions and the precision of AI-powered personalization, travelers are witnessing a revolution that promises a more seamless and efficient journey.

Here’s a closer look at some of these cutting-edge advancements :

• Virtual Reality (VR) and Augmented Reality Tours: While VR provides an immersive experience where users feel like they are in a different location, AR enhances real-world views by overlaying them with digital elements, such as historical information or interactive exhibits. Both these tools allow potential travelers to explore and interact with a location or accommodation before making a booking, offering an enriched pre-travel experience.
• Contactless Technology : Given the hygiene concerns post-pandemic, the adoption of contactless payments, check-ins, and digital room keys has increased, ensuring safety and convenience for travelers.
• AI-Powered Personalization : To enhance customer experience, businesses are increasingly leveraging Artificial Intelligence. AI tools analyze past travel behaviors to recommend tailor-made travel packages, ensuring a more personalized journey for each traveler.
• Environmental Monitoring Tools : With the rising emphasis on sustainable travel, some innovative platforms now offer real-time data on the environmental impact of travel choices. This can cover carbon footprints, energy consumption, and waste production, allowing travelers to make more informed, eco-friendly decisions.
• Mental Well-being Focus : Recognizing the pandemic’s toll on mental health, travel packages often include mindfulness and wellness components. Retreats, yoga sessions, and mental well-being workshops are becoming popular inclusions in travel itineraries.
• Smart Hotels: The concept of “Smart Hotels” encompasses automated room settings, robot-assisted services, integrated mobile apps, energy efficiency systems, and personalized guest experiences, revolutionizing the stay experience for travelers.

How Do You Start Your Own Travel Business?

Launching a travel business begins with a concrete vision and a meticulously detailed business plan. It’s pivotal to understand that while some niches in the travel segment might be lucrative, they may also demand a considerable initial financial outlay.

Thus, potential entrepreneurs should thoroughly evaluate their financial standing and possibly gravitate towards business models that are more budget-friendly, especially if initial capital is a concern.

Beyond finances, it’s crucial to introspect and understand the intrinsic motivations pushing one towards this industry.

Is it a passion for travel, an interest in other cultures, or the thrill of entrepreneurship? Recognizing this driving force can guide the business’s direction and ethos.

Image: Envato Elements

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If there is one thing most people can agree on, it’s that traveling is one of life’s great pleasures. Exploring new cultures, visiting the world’s great wonders, spending days following your instincts and trying exotic foods — there’s a lot to love about discovering new places.

If you want to take your love of travel to the next level and start a business to serve your like-minded wanderlusters, you should consider these fun and profitable travel business ideas.

What is a travel business?

There are two overarching types of travel businesses worth considering. First, you could think about starting a business that provides services or goods for travelers — running a hotel, for example. The second option is to start a business that you can run from anywhere in the world while you yourself travel. In many cases, this type of business revolves around travel, such as working as a travel writer and writing stories about your latest adventures.

What makes a travel business idea a good one?

A good travel business should combine two things: reliability and excitement. When you run a travel business, your clients need to be able to trust you. They need to feel confident that the tour group you run is legitimate and will show them the best sites. Or that the blog you run about the best inns on the east coast actually gives honest reviews.

At the same time, you need to offer services or create content that excites your customers. Introduce them to sights off the beaten path. Help them unwind and relax while on their vacation. Find a way to create trust amongst your customer base while offering them an experience they can’t find anywhere else.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

12 travel business ideas for 2021

If you’re unsure of what type of travel business ideas could work for you, keep reading for some popular options. These ideas range widely and you should put your own creative spin on them. At the end of the day, think back to your passion for traveling. What services or products have made the most difference to you on past trips? What did you feel was missing? Can you find a way to make a living on the road while capitalizing on your skillset? Chances are, you have more ideas at the ready than you think.

1. Modernized bed and breakfast

B&Bs have been popular for decades — they outlive trends and are clearly here to stay. But why not step things up a notch and find a way to modernize the bed and breakfast experience a little bit? Make sure your rooms are outfitted with nice televisions so guests can enjoy a movie night in their cozy room. Offer unique culinary experiences. Decorate in a way that feels timeless but fresh at the same time. A bed and breakfast is a smaller operation than a hotel and is a great way to break into the hospitality business. If you need a little help funding your bed and breakfast, consider one of these financing options.

2. Off-the-beaten-path tour guide

Tour groups are a dime a dozen. But if you can offer a unique tour, you’ll be able to stand out from the competition. What do you love about your city? Maybe you can find the best coffee, chocolate, or salty treats at your local shops and restaurants. Organize a foodie tour of your town that highlights how your local delicacies are made. Of course, you’ll have to include tastes of all the local treats.

Or consider organizing a tour of some lesser-known sites. Surely there is a natural activity or historical site that tourists haven’t caught onto yet. If you can give your travelers a taste of local life or make them feel like they’ve uncovered something special, then your tour guide business will thrive. Maybe some locals will even join in on the fun.

3. Glamping

Here’s a fun fact for you: By 2025, experts estimate the glamping market in the United States alone is projected to reach a revenue of around $1 billion. It sounds like the great outdoors is getting a little fancier. What exactly is glamping? Glamorous camping.

Glamping combines nature with the comforts of home, and usually Champagne. That’s right, after a long day of hiking or river rafting, campers can return to decked-out campsites that offer spa treatments, wine and gourmet meals. The perfect combination of adventure and relaxation. If you can create a campsite that melds the best parts of nature with resort living, you’ll be in business.

4. Remote travel agent

Long gone are the days of travel agent offices. The truth is, thanks to the internet it’s easier than ever to plan a trip. Anyone with a computer can choose between hundreds of flights, hotels and restaurant reservations. The ease of access is great, but the time it takes to weed through those options might not be available to everyone. This is where a remote travel agent comes in.

You’ll work out of your own home which saves the customer costs on overhead expenses. For a more affordable price, remote travel agents can help busy travelers plan their next vacation from anywhere in the world. Help them book the best hotels, unique activities and provide them with all of their important travel bookings and documentation.

5. Travel consultant

Even though their job titles sound similar, a travel consultant is different than a travel agent. A travel consultant usually specializes in solving complex travel issues. For example, they may specialize in helping adoptive parents travel abroad to make the task of adopting a child from a foreign country run smoothly. Or they might assist businesses with complex assignments like learning how to cater to new cultures during business deals. Travel consultants generally focus less on tourism and more on helping iron out logistical issues.

6. Travel photographer

As a travel photographer, you’ll have plenty of options for making money off your passions for travel and photography. You can sell photos taken while traveling to newspapers, magazines and websites. Or you can sell your favorite shots in your own online shop. You could license your gorgeous photos of Paris or Peru to companies that create goods like calendars or art prints. Perhaps you want to help create stock photography for big companies like Getty Images. Point being, we live in a very visual world and there are plenty of options for starting a travel photography business.

7. Create a haunted attraction

Want a surefire way to make sure your hotel or guided tour drum up enough business? The solution is easy: Make it haunted. This may seem like a business better suited for Halloween time, but people are ready to get their scare on year-round. These haunted attractions do particularly well in historic locations like towns on the east coast where there are plenty of ghost stories to go around. Do some research and then let your imagination take care of the rest. You might want to load up on business insurance just in case your haunted attraction is too scary.

8. Teach cultural classes

It’s time to share your unique culture with the world. Offer fun classes for tourists that will make them feel like locals, whether that be a Creole cooking class or an art class that captures a local style of painting. Help tourists pick up a skill that they won’t learn anywhere else, like how to make an authentic cup of Turkish coffee or bake a truly Parisian croissant.

9. House or pet sitting

Sometimes a travel business does its best work when helping travelers look after what they left behind. House or pet sitting can be a great side hustle to take on if you’re looking for a little extra cash. Of course, you could always start a larger business like a kennel that takes care of beloved pets while their owners are jet-setting around the world. Some people are even willing to pay for plant hotels that keep their plants in tiptop shape until they return from vacation. Consider a travel business that will give your customers peace of mind while they are far from home.

10. Travel blogger

You’ve traveled the world and, boy, do you have some good stories to tell. So why don’t you then? By starting a travel blog, you can make money by sharing your experiences. You can offer up travel advice, share photos from your journey and review restaurants and hotels. Once your blog picks up some steam (aka gets a decent amount of pageviews and monthly visitors) you’ll be able to make money from ads hosted on your website, sign up for affiliate programs, or create sponsored content for brands. If this sounds like your ideal business, this guide can help you start a travel blog.

11. Ecotourism

Sustainability is all the rage right now and for good reason. It makes sense that those who value exploring the world want to keep it safe. Which is why ecotourism (also known as green tourism) is such a potentially profitable idea. Essentially, ecotourism allows travelers to learn about local culture and wildlife in a low-impact way.

Generally, these types of tours or services (like hotels) try to minimize the impact of traveling while giving tourists the education and tools to help positively impact the environment and community they visit. Many travelers are even willing to spend more on hotels if they are environmentally friendly. If you can find a way to show tourists a good time while helping them make a positive impact, you’re sure to have a popular business on your hands in no time.

LLC Formation

12. Home rentals

Do you have a gorgeous pool house just waiting to be turned into an oasis for weary travelers? Consider starting a home rental business. You can list any rooms in your house that are available to rent out (or even your entire house if you’re headed out of town yourself) on home rental websites like Airbnb or HomeAway. If you live in a popular area where hotels are particularly pricey, then you may be able to fetch a pretty penny by allowing customers to rent rooms in your home.

The best part is, you get to set your price. You only have to rent to people who can meet your price and who you think would be a good tenant (Hint: They need as many good reviews as you do). This can be an ideal business for bringing in extra money to help fund your next vacation. Just make sure that your town, apartment complex, or homeowners association allows you to rent out your property and that you’re following proper regulations.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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LLC vs. Sole Proprietorship: Which One is Best for Travel Agents?

Taking the leap of faith and starting your own travel agency can be new and exciting until it comes time to choose a business structure. There are numerous different types of business structures, all of which retain advantages and disadvantages.

However, many travel agents lean towards an LLC or sole proprietorship setup because of its simplicity. Understanding the primary differences between each business entity will help you determine which one is right for your new business.

The Basics of an LLC vs Sole Proprietorship

LLCs and sole proprietorships share similarities in the taxation process, but have key differences in growth and expansion opportunities.

Sole Proprietorship

A sole proprietorship is an unincorporated business owned and managed by one individual. A sole proprietor cannot bring any additional partners into the business because of the way the income or loss is taxed.

Limited Liability Company

LLC or limited liability company, is a legal entity that is formed at the state level. Generally, the state the business operates in will be the state the LLC is formed in.

LLCs can take on two forms: a single member LLC or a multi member LLC. A single member LLC is very similar to a sole proprietorship in how tax is reported and paid while a multi member LLC allows travel agents to have multiple partners.

How to Choose a Sole Proprietorship vs LLC?

The consideration of an LLC vs sole proprietorship extends beyond just the setup process. In fact, there are countless considerations you will need to evaluate to find the right business structure for your travel business.

Sole proprietors are the only individual that reports income or loss in the business. This is because all income is reported on the personal tax return on Schedule C. Single member LLCs report income in the same way as sole proprietorships while multi-member LLCs pass through taxation to each member.

Tax Implications

Another primary difference between an LLC and sole proprietorship is the tax implications. A sole proprietor reports all income or loss on their personal income tax return, meaning they are responsible for paying taxes on all income.

LLCs that have multiple members will have pass through taxation to each member according to their ownership percentage, resulting in the potential for a lower tax liability on the income tax return compared to sole proprietorships.

Sole proprietors and members of an LLC will be required to pay self employment taxes on the business income. The IRS treats both of these businesses as being self employed, requiring the owners to pay taxes at the ordinary income level and self employed level. The tax benefits, such as offsetting one-half of the employment taxes as a credit, can help reduce your liability.

There are tax benefits for both of these business structures, including credits and deductions geared toward business owners that can be claimed on the tax return. Payroll taxes are also another consideration when choosing between these structures. Taking a salary out of your business and paying employees is generally easier with an LLC.

Distributions

When your travel business starts to turn a profit, there are limits on how much money you can take out, depending on your structure. An LLC vs sole proprietorship differs in how money is taken out.

Since a sole proprietor is a business structure with no partners, they can take whatever distributions they want. A single member LLC is able to take distributions similar to sole proprietorships.

Multi member LLCs are required to take pro rata distributions. This means that the distribution must be proportionate to their ownership percentage. For example, if you own 50% of the travel agency and want to take $10,000, the LLC would be required to distribute $10,000 to the other 50% of ownership.

Depending on how much you want to take out of the business each year, one business entity might be more favorable.

Business Debts

Sole proprietors are personally responsible for business debts. If your business defaults on a loan or line of credit, there is minimal liability protection between you and the lender. On the other hand, LLCs have more personal liability protection. If the business defaults, the amount you are required to repay depends on your ownership percentage and the partner type you are.

General partners will have little personal liability protection similar to a sole proprietor while limited partners have personal liability protection up until their basis amount. The basis of the company is how much money the member has earned, contributed, and distributed.

Business Formation

Forming an LLC requires more forms to be filed , especially when multiple partners are involved. Limited liability companies that have more than one partner are required to create an operating agreement. An operating agreement outlines the income and loss percentages along with how money can be taken out of the company.

An LLC is also required to file articles of organization when they register the business. You may need to enlist the help of a lawyer to draft proper articles of organization for your travel agency. Additionally, working with a registered agent can help you ensure you are filing the proper forms to create a legal business.

Regardless of if you start a business as a sole proprietor or LLC, you will need to determine a business name for your travel agency. The name must not be already taken and should help customers identify your primary business activity. An LLC will go through the business name claiming process while a sole proprietor might report and pay taxes under their legal name.

Personal Liability Protection

Personal liability is another major factor to consider. A limited liability company has more protection compared to a sole proprietorship. This is because personal assets are generally separated from business assets. If your business is sued and the courts see that you mix business and personal assets, you may be required to pay lawsuit costs from personal funds.

Not only can your business face bankruptcy, but your personal life can be dramatically impacted. Legal protection is one of the main reasons that travel agents set up an LLC instead of a sole proprietorship.

Avoiding being personally liable can be done by having a separate bank account in the business name and running all transactions through there. Minimizing the debts and obligations your business faces is critical as a business owner. You want to protect your personal assets, such as your home, retirement accounts, and checking accounts.

However, if you choose to set up a sole proprietorship, keeping personal finances separate from business expenses and income with a different bank account is a great first step in safeguarding your personal assets. The more liability protection you can implement, the easier it will be to report accurate tax returns and maintain proper segregation between income and expenses.

Start-Up Costs

When it comes time to form an LLC or sole proprietorship, there are costs to factor in. Setting up an LLC requires travel agents to register with the corresponding Secretary of State, depending on where the business is formed. You will be responsible for paying a filing fee to register your business, which varies by state.

Single member LLCs don’t need to apply for an EIN or register with the IRS, but multi member LLCs do. Generally, the only requirement to form an LLC is to register with the respective state. You will need to know key information about your business including any partners, the designated partnership representative, business address, and ownership percentages.

To start a sole proprietorship, there are fewer filing fees and requirements compared to an LLC formation. The business structure of a sole proprietorship works great for a small business owner, such as a travel agent.

Growth Options

Choosing between an LLC vs sole proprietorship also factors in growth opportunities. Small business owners that are looking to scale significantly in the upcoming years might want to set up an LLC from the start. This is because there are more growth opportunities to add on more partners and minimize their tax burden compared to a sole proprietorship.

A sole proprietor cannot bring on any additional partners unless they change structures. This is one of the main disadvantages of sole proprietorships. A single member LLC can easily adapt to add additional partners on, giving access to capital and other resources.

Record Keeping

Both an LLC and a sole proprietorship have record keeping burdens for liability protection and tax reporting. A limited liability company LLC has a greater record keeping burden because of the different agencies that they report to. Staying on top of LLC filing requirements, such as annual reports and remittances, can take away from your time as a travel agent. Like an LLC, sole proprietorships also have record keeping burdens, but these are often less in scope compared to an LLC.

Choosing the right structure for your business can seem overwhelming with both an LLC and sole proprietorship retaining advantages and disadvantages. A sole proprietorship and LLC are two common business entity types when choosing to start a travel agency.

The main differentiating factors come down to if you want to be personally responsible and personally liable for all business operations.

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Travel Agency Business Structures: How to Choose

Let me be brutally honest: there’s no silver bullet regarding which travel agency business structures are best. Really, the best person for you to chat with on this is your tax person or travel attorney . But … while you’re waiting for them to call back (cue elevator muzak), I’ve got some pretty handy information for you. 😊

Here’s how this is gonna go down:

• Call/email your tax person to set up a time to chat on the best business structure for your situation. Don’t have one? You’ll want to find one. A great tax person is invaluable to your new travel agency and can help you save moola on your taxes .
• We’ll chat on the different types of travel agency business structures available and the pros/cons of each.
• You’re going to do a Happy Dance (and I’ll do the background singing… it’s gonna be so great!!).

Despite the latest COVID variant, we don't think you should throw in the towel on starting a travel agency. Here's why.

First Things First: Laying The Foundation

Before we even get our hands dirty with travel agency business structures, let's do a quick primer:

1. DBA (Doing Business As):

While DBA is not a type of business structure, it’s worth reviewing because I’ll be throwing around this acronym a lot. Why? Because most Sole Proprietors will need to file a DBA, and with the other business structures you’ll need to file a DBA when using any business name other than the legal business name.

Most Sole Proprietors will need to file a DBA, and with the other business structures you’ll need to file a DBA when using a business name other than the legal business name.

To understand the purpose of a DBA, we have to step back a bit. Let’s look at this scenario: I’m Steph Lee, owner of Host Agency Reviews. When my advertisers pay me, they don’t make the check out to Steph Lee, they make it out to Host Agency Reviews. When I go to cash those checks, the bank has to somehow know Steph Lee and Host Agency Reviews are the same, right? (And the government wants to know the person behind the business for obvious reasons.) A DBA lets 'em know that I'm the wizard behind the curtain.

That’s where our handy dandy DBA filing comes in! When you open your business bank account, you will likely be required to provide a DBA to prove that you’re the person the money should be going to.

The other thing to know is that the DBA is called different things in different places. In Canada, O/A (Operating As) or T/A (Trading As) are DBA's equivalents. In the US, "trade name," "assumed business name," and "fictitious business name" are all are just synonyms for DBA. *Sigh.* Bureaucracy. 🙂

Note: Every state/province has different rules on DBAs so it’s best to contact your local Small Business Administration (SBA) office or local Canada Business Network for some guidance.

2. FEIN: 

Federal Employee Identification Number (sometimes referred to as an "EIN") is a 9-digit number Uncle Sam uses to identify businesses in the US. For a Sole Proprietor, you don’t technically need a FEIN  unless the IRS’ says so . But here’s a little secret . . . get one anyway! Here’s why:

• If you don’t have an FEIN, you’ll be using your social security number. Now, you don’t want your social security number floating all over, do you?
• Many host agencies require that you have a FEIN number in order to sign up.

The FEIN application doesn’t take long to fill out and—this is one thing the IRS is quick about— your brand spankin' new FEIN is issued immediately on the site! Plus, it’s free! So why the heck not?! 

3. Tax Professionals Are Your Friend: 

I'm serious. Go get one right now. Finding a good one is like dating. Ask your friends to set you up with a good one. You might run into some doozies, but you'll find love soon enough. 

For those of you that are all about reading ahead and want extra credit, we have a few tax resources on the site about estimated taxes and travel expenses .

Getting to Know the Types of Travel Agency Business Structures:  

Okay, let’s start from the ground up. What types of legal travel agency business structures are out there for your new biz? There’s a few options here in the United States and Canada:

• Sole Proprietor
• LLC (Limited Liability Corporation)
• Partnership
• Corporation (S. Corp) 

Let’s start with the least expensive and simplest to implement, then we’ll work our way up. 

1. SOLE PROPRIETOR

A Sole Proprietor is the easiest business structure to set up and has a sole owner . . . you! It’s easy to implement because you don't have to mess with the legal paperwork that comes with setting up a separate business entity. You and your business are like conjoined twins. SCORE!

There’s a dark side to that, of course (beyond sharing organs). Because you and your business are one and the same in the eyes of the government, that translates to two potential downers for you:

• You’re held responsible for any debt of your company. (Bankruptcy!!! Oh no!) 
• If someone names your company in a lawsuit—bad news—that means they’re also suing you as an individual. 

Quick reminder:  Sole Prop. requirements vary by location so check out NOLO.com’s state-by-state guide to setting up a Sole Proprietor for specifics on what you need to get set up in your state. And remember, you're probably going to need that DBA we talked about earlier.

Tax Note: As a Sole Proprietor, while you and your business are seen as one entity, you’re still a business and that has certain responsibilities . . . Like filing quarterly estimated taxes ! You aren’t paying income tax, but you do pay self-employment tax (those are your estimated taxes).

2. LIMITED LIABILITY CORPORATION  (LLC)

Now we’re getting into the big time—we’ve added the word Corporation to our business structure! YAY!

Sadly, with the word Corporation, comes big(ger) price tags. The cost of an LLC filing is typically around $100-200 but states like California charge an additional $800 tax on top of the filing fee. But here's an olive branch! You’re getting personal liability protection! But, more sad news—I hate to put you on a roller coaster ride here—you'll pay a price for that personal liability protection with more paperwork and higher administrative costs.

Some things you should prepare to do to set up your travel agency's LLC:

• Set up a FEIN
• File your Articles of Incorporation (don’t be scared, it’s super easy)
• Create an Operating Agreement (I can’t lie; this one is not as fun)
• Publish a public notice (only for some states)

NOLO.com has a fabulous state-by-state guide on how to form an LLC you’ll definitely want to take a gander at it. It has pricing, the exact steps to file your Article of Incorporation, and tells you whether your state has any publication requirements, and loads more! I heart it. 

For most of the readers of our site, if you started as a Sole Proprietor/Partnership and your agency is successful, chances are you’ll be transitioning to an LLC down the road so bookmark this article!

Two Quick Tips:

1. An LLC provides personal liability protection, but not if you use your social security number or personal financial information to obtain financing or credit.

2. LLC owners do not need to be US citizens or permanent residents because an LLC travel agency business structure does not have residency requirements. This is something for folks who don’t have a permanent US residency or citizenship will want to note!  

Yet Another Tax Note:

Your business income and expenses are reported on your personal tax return. If you’re a single-member LLC, you are viewed as a “disregarded” entity. This means that when tax time comes, you report the LLC’s income/expenses in a Schedule C ─the same schedule used by Sole Proprietors.

If you think I talk a big game on taxes here, you should see the tax and finance course I created for ASTA!

3. PARTNERSHIP

A Partnership actually isn't a business structure, it's more of a business type. Anytime you have two or more business partners, you're going to be looking at a partnership.

If you have a Sole Proprietor set up with more than one owner, it's called a General Partnership. Weird. I know. Like a Sole Proprietorship, a General Partnership is easy to set up. Again, the downside is that the law views you and your business as the same entity so you are both held personally liable for any debts of your company. So if your partner makes bad choices, that will come back to you.

An LLP not only limits your personal liability for the debts of the business, but it also limits your liability for any wrongdoings of your partners.

Now, what if you don't quite want to be an LLC, but you want more personal protection than what you'd find with a General Partnership? That's where the Limited Liability Partnership (LLP) comes in. Not all states have this option but it essentially limits your personal liability. And what's important here is that an LLP not only limits your personal liability for the debts of the business, but it also limits your liability for any wrongdoings of your partners.

When you're looking at an LLC structure but have more than one owner, you've now entered the territory of an LLC with the tax classification of a Partnership.

Let’s go verbatim with the IRS site here, “A Partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax.” 1 The profits/loss of your company will “pass-through” to your personal tax return and you pay those pesky estimated taxes  in lieu of income tax.

If setting up a partnership, I’d recommend talking to other entrepreneurs that have experience with partnerships and ask them what they wished they’d known going in. If you don’t know anyone involved in a partnership, check out this Entrepreneur article . Or, Google has all sorts of advice just waiting for you. 😊

Also, I highly, highly encourage you to spend the money on a travel attorney and have them write up a partnership agreement . Like a marriage, taking a business partner should not be taken lightly! Your attorney can also help walk you through the process and offer some sage advice!

Find HAR's list of travel industry attorneys here.

4. S. CORPORATION  & C. Corporation

Because only ~.00001% of readers on the site might find this useful, I'm going to breeze through, offering a little background info for S. Corp. business models.

"S. Corp" refers to, "the provisions allotting S status to companies are enumerated in Subchapter S of Chapter 1 of the Internal Revenue Code." 2 Wow, that really clarifies things, doesn't it? Here's what you really need to know about an S. Corp . . . it's not really a business structure, it's a tax designation

I'm not trying to pull one over on you by including info on S. Corp in an article dedicated to travel agency business structures. The benefit to some agencies of an S Corp taxation status is that the company only pays self-employment taxes on the owner’s salary . With S Corps, any profits left in the business or distributed to shareholders are not subject to the 15.3% self-employment taxes. That adds up!

Sounds dreamy eh? Well just remember that you'll need to factor in additional costs of unemployment insurance, payroll administration fees, more complicated taxes and in some states, and additional fees for being an S Corp.

Wondering if it makes financial sense to change from being taxed as a single-member LLC to being taxed as an S Corp? Or do you have 100+ shareholders and need to think about a C. Corp? If that’s you, stop reading right now and call an attorney pronto to make sure it’s done correctly (ahem, not consulting me 🙂). So, let’s not waste any more time on this!

Deciding on a Travel Agency Business Structure: Questions to Ask

A Sole Proprietor will be the best fit for most of our readers because it’s a nice stepping stone into the world of entrepreneurship. That said, maybe you want to explore it more. What’s the difference between the business structures? I think the easiest way to look at it is to keep in mind that structures differ by:

• how much personal liability protection do they offer you?
• how much they’re going to cost?
• how much work they are to start/upkeep?
• how they’re viewed by Uncle Sam?

So, which business structure is right for your travel agency? Let’s dig a little deeper into a few of the questions to help you narrow it down.

Question #1 Personal Liability Protection: What do I have to lose? 

No, seriously. If you’ve got a lot of personal assets (think: nice car, amazing stamp collection, boat, private island, etc.), you’ll probably want to consider a travel agency business structure like an LLC to protect your assets.

If you’ve got a lot of personal assets (think: nice car, amazing stamp collection, boat, private island, etc.), you’ll probably want to consider a travel agency business structure like an LLC

With an LLC, the law sees you (as a person) separate from your company. This means if your travel agency is named in a lawsuit or your agency files bankruptcy, your personal assets are not fair game.

Another thing to consider is that higher-profile travel agencies are more likely to need greater legal protection since they have a bigger target on their back. An LLC structure is a good bet.

Of course, because your personal assets are protected, that means more paperwork, which means you can expect it to cost a bit more.

Question #2: What is my level of risk tolerance?  

The way I look at it, your level of risk tolerance comes down to 4 things:

1. How much you’re worth

2. How much you’ve invested

3. How much your travel agency makes/is expected to make

4. How much risk you’re comfortable with

If you’re starting up your travel agency, don’t have a ton of cash, and plan on booking only friends and family, let's be honest . . . your risk of going bankrupt or being sued are pretty slim. So to start, you might feel comfortable with a Sole Proprietor structure that is easier to implement, costs less, but doesn’t protect your personal assets.

However, if you’ve got a private island and have pet dolphins, you may not want to risk it. In this case, I’ll assume you’d be more than happy to pony up the cash for a business structure that protects Flipper and her pod.

For a more realistic scenario—come back down to Earth, Steph— if you’re opening a storefront, hiring employees, or taking out a business loan, then you’ve got a lot on the line and probably want to go with a business structure that protects your personal assets in case things head south.

Question #3: How much do I want to spend?  

Starting up a travel agency can be stressful for most entrepreneurs. As you’re getting set up, you’re putting money out and nothing is coming back!

Filing as a Sole Proprietor can be done in most states for less than $100. Contrast that with the cost of an LLC ($100-$200 in most states + higher tax preparer costs due to more forms + legal fees of getting setup + higher administrative costs).

Remember, you can always start as a Sole Proprietor and change your travel agency’s business structure at a later date.

Need a Boost to Get Your Travel Agency Going? We Can Help.

If you want some more one on one support, our 7 Day Setup Accelerator is a huge asset. It will help you save time getting going so you can start booking travel and get those commissions coming in, stat!

The course is written and taught by yours truly and Bridget Lee professional educator with deep roots in the travel industry. Maybe you notice a last name similarity? We're sisters and we both came up in a family that is deeply rooted in the industry. Check it out !

OMG, We’re Done … Happy Dance!

No, no, no . . . I did NOT forget about the Happy Dance part. So, I’m going to throwback to one of my old school favorites. N’Sync’s Bye, Bye, Bye.

Ahem, here’s your dance part (compliments of Darren’s Dance Grooves, a VHS (what!?!?!) I really did purchase to learn the Bye, Bye, Bye dance):

And if you need a refresher on the part I’ll be singing, here’s the music video for you:

[Editor's Note: This article was originally published in Aug. 2020. We updated it with all the latest and greatest info and republished it on the post date above! We made a very important correction to clarify that groups of dolphins are regarded as "pods". . . not a clan, posse, or entourage. ]

• Source: IRS site ↩
• Source: Corporate Finance Institute ↩

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30 Top Travel Startups to Watch in 2024

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The travel industry was hard hit by the pandemic, with travel startups facing sharp declines in demand at pivotal stages of their business. The companies that are thriving today are those that have quickly adapted to meet the ever-evolving needs of travelers.

From work retreats to staycations, innovation is the name of the game. These top travel startups are promoting tourism by making it more convenient, more eco-friendly, and simply more fun. There are plenty of opportunities for any entrepreneur, particularly as the public gets their second wind to get back out there and start exploring.

Best Travel Startups to Follow

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the top travel startups of 2024 that startup lovers, investors, and aspiring entrepreneurs should follow.

Disclaimer: With so many exciting travel companies launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

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• Location: San Francisco, California
• Founder(s): Francis Davidson, Lucas Pellan, Martin Picard
• Founded In: 2014
• Funding: Post IPO-Equity, $839.6 Million
• Investors Include: Principal Global Investors, BlackRock, Moore Capital

Sonder taps into a growing demand for unique places to stay. The company has a number of luxury properties in popular destinations around the world. What makes the company even more special is that the staff has adapted services based on how people travel today. Travelers can check-in, request towels, and get recommendations on what to do — all from their phones.

2. TravelPerk

• Location: Barcelona, Spain
• Founder(s): Avi Meir, Javier Suarez, and Ron Levin
• Founded In: 2015
• Funding: Series D, $530.3 Million
• Investors Include:  SoftBank Vision Fund, Greyhound Capital, General Catalyst

TravelPerk is a travel platform that helps business travelers manage their travel and expenses as well as book business trips with ease. The platform suits businesses of all sizes and streamlines the process of finding, booking, and planning business travel.

• Location: Singapore
• Founder(s): Ahmet Bahadir Ozdemir
• Founded In: 2019
• Funding: Series A, $67.3 Million
• Investors Include: Plug and Play , GO Ventures, Rakuten Capital

Airalo is providing a more flexible phone alternative no matter what country you’re in. Their eSIM store is the first of its kind, offering affordable, local rates for eSIM compatible phones, tablets, or PC computers. Customers never have to worry about carrying several SIM cards, changing their phone number, or losing communication capabilities with Airalo eSIM cards.

4. Tripsider

• Founder(s): Olga Bortnikova, Ivan Bortnikov
• Founded In: 2018
• Funding: Seed, $1 Million
• Investors Include:  Liqvest, Mission Gate, Starta

Next on our list of top travel startups is Tripsider , an app that matches people with the right trip based on everything from their interests to their budget. The company compares the algorithm to that of a dating app, taking into account values, past experiences, and goals to match people with a travel expert via text or phone call. Experts have resources to help travelers officially confirm their bookings, removing one more thing for vacationers to worry about.

5. BabyQuip

• Location: Santa Fe, New Mexico
• Founder(s): Fran Maier
• Founded In: 2016
• Funding: Seed, $10.7 Million
• Investors Include: Moai Capital, How Women Invest, SBI Investment

BabyQuip is a travel startup with a new take on the gig economy – providing a platform for baby gear rentals for traveling families. BabyQuip delivers all the necessary gear to wherever a family needs it – the airport, a hotel, or even the grandparents’ house. The company will tailor the equipment to each client’s needs, whether it’s a full-size crib, car seat, stroller, or anything else.

6. The Hotels Network

• Founder(s): Juanjo Rodriguez, Laura Martinez Celada, Marc Rollan Serrano
• Funding: Series B, $15.2 million
• Investors Include: Seaya Ventures, Elaia, 4Founders Capital, NFX

The Hotels Network is a platform that serves as a method of growth for hotels using technology to attract and convert online visitors to paying customers by creating a unique, personalized, and predictive user experience. Hotels can use the platform to compare reviews, pricing, analytics in order to create more impactful marketing campaigns.

• Location: London, United Kingdom
• Founder(s): Steve Domin, Tom Bates, Vincent Pastor
• Founded In: 2017
• Funding: Series B, $56.2 Million
• Investors Include: Index Ventures , Benchmark , Kima Ventures, Blossom Capital, et al.

Duffel is an online platform for travelers to find, book, and manage flights from a myriad of airlines. Working in tandem with airlines to provide a better customer experience, Duffel provides travelers with real-time pricing and availability to make booking a trip easier than ever.

• Location: Madrid, Spain
• Founder(s): Dennis Vilovic, Leonard Cremer
• Funding:  Series B, $11 Million
• Investors Include:  All Iron Ventures, Durable Capital Partners, Madrona Venture Group

Troop is a travel technology company that utilizes data to help corporations plan in-person meetings. Leveraging the power of science and technology, Troop makes planning in-person meetings for their Fortune 500 companies sustainable, safe, and secure.

9. roadsurfer

• Location: Munich, Germany
• Founder(s): Christoph Niemann, Markus Dickhardt, Susanne Dickhardt
• Funding: Series Unknown, $28.9 Million
• Investors Include : Lawrence Leuschner, Heartcore Capital, 10x Group, et al.

roadsurfer rents RV campers to outdoor lovers in Europe and America. The company stands for freedom and offers a number of perks to its customers, including unlimited mileage, a free second driver, road assistance, and flexible rebooking options. For anyone who dreams of getting away from it all and experiencing van life for a few months, this company is connecting people to the vehicles they need to hit the road.

10. Pickyourtrail

• Location: Chennai, India
• Founder(s): Hari Ganapathy, Srinath Shankar
• Funding: Venture, $3 Million
• Investors Include: Kumar Vembu, Vinay Ahuja, Girish Mathrubootham, Kunal Shah

Pickyourtrail is India’s largest online holiday booking platform for DIY travelers. People come here to customize their vacations by building unique itineraries from the ground up. The platform takes into account people’s interests, timelines, and budgets before crafting travel that will mesh with the individual’s tastes. The company also works with a number of tourism boards in popular locations, such as Iceland, Japan, and New Zealand, to create more streamlined experiences for all customers.

• Founder(s): Johannes Siebers, Michael Siebers, Rasmus Porsgaard
• Funding: Series E, $199.8 Million
• Investors Include: Venture Stars, Prime Ventures, EQT Ventures, et al.

Holidu is a website where vacationers can book accommodations at the lowest price. It was started by the founders after trying to find a place to stay in Portugal, only to find that many of the same properties were listed on different sites at different prices. Their platform makes it possible to search and book rental properties without having to worry if there was a better deal out there.

12. Whimstay

• Founder(s): Alexander Alioto, Ben Jamshahi, Kamesh Jasani, Noel Russell
• Funding: Seed, $10 Million
• Investors Include:  Talent Resource Ventures 

Whimstay is designed for last-minute travelers who want great deals. The app and website helps property owners and hosts match their unsold nights with travelers, so everyone can benefit from the search engine. The company is built on the premise that many of our favorite travel moments are entirely unplanned, and the platform boasts up to 60% savings off the original costs of rental properties.

13. Scenset

• Location: Amsterdam, Netherlands
• Founder(s): Eli Bressert, Tamar van de Paal
• Funding: Seed, $5 Million
• Investors Include:  Cavalry Ventures, Project A Ventures

Next on our list of the best travel companies is Scenset . Most people take just under 3 weeks to book a trip, and while some people may love piecing it all together, most just want to just get it over with. Scenset personalizes your vacations with end-to-end planning with the help of travel curators. The team is there so travelers don’t have to skip from site to site, and these experts often deliver experiences that travelers would never have without their interference.

14. Boom Supersonic

• Location: Englewood, Colorado
• Founder(s): Blake Scholl, Joe Wilding, Joshua Krall
• Funding:  Series Unknown, $700 Million
• Investors Include:  Momentum Ventures, Prime Movers Lab, Caruso Ventures

Boom Supersonic is attempting to cut down on travel time by as much as half with supersonic jets. Travelers have the option of going from Tokyo to Seattle in as little as 4.5 hours (compared to 8.5 hours in a standard passenger plane). The company offers more than 500 transoceanic routes, allowing more people to test their boundaries and explore the world.

• Location:  Paris, France
• Founder(s): Aziza Chaouachi, Mario Moinet, Yassine Ben Romdhane
• Funding: Convertible Note, $22 Million
• Investors Include: Prime Ventures

Leavy allows people to live anywhere they’d like, if only for 24 hours or less. Though it was founded before the pandemic, the company is tapping into the idea of travel and affordability. The platform pairs customers with people willing to share their homes and pays cash to anyone who will open the door. While accommodation amenities vary, the barebones feature of Leavy is opening the door to people who might not have been able to afford travel otherwise.

• Location: Bucharest, Romania
• Founder(s): Alexandru Govoreanu
• Funding: Seed, $1.8 Million
• Investors Include: Early Game Ventures, Sparking Capital

Questo is a gaming app for travelers designed to help them explore cities and towns in an unusual way. So if an individual in London wanted to hunt down Jack the Ripper, they’re whisked away on an exciting quest, gathering clues in real time while learning about history at the same time. Games range depending on destination, so you can uncover the Midici conspiracy in Florence or discover the ghosts of Glasgow.

• Location: Berlin, Germany
• Founder(s): Naren Shaam
• Founded In: 2013
• Funding: Series E, $476 Million
• Investors Include: Lazard Asset Management, Stack Capital, Goldman Sachs Asset Management, et al.

Omio is a transportation app that gives travelers an easy way to travel long distances. It’s not designed for getting around a city but rather suggests nearby airports and train routes that would make it possible to cover serious ground at the drop of a hat. It helps travelers visualize the best routes to take based on everything from speed to price. Travelers can also access tickets on their phones for trains and planes, adding an extra layer of convenience.

18. Surf Air Mobility

• Location: Hawthorne, California
• Founder(s): Cory Cozzens, David Eyerly, Liam Fayed, Reed Farnsworth, Scott Craig Porter, Sudhin Shahani, Wade Eyerly
• Founded In: 2012
• Funding: Debt Financing, $563.7 Million
• Investors Include: IVP, Troy Capital, Sway Ventures, et al.

Surf Air Mobility is an environmentally friendly company that’s introducing the world to zero-emission flying with the help of electric vehicles. With more than 910 million tons of carbon on the line, the company is starting with existing aircraft. The staff replaces the standard engine with an electric version as a means to decarbonize the travel industry.

19. SafetyWing

• Location: Silicon Valley (Palo Alto, California)
• Founder(s): Hans Nyvold Kjellby, Lona Alia, Sarah Beyahte Sandnes, Sondre Rasch
• Funding: Series B, $47.1 Million
• Investors Include: Creandum, Alma Mundi Ventures, Kinnevik, et al. 

SafetyWing describes its products as insurance for nomads, by nomads. The company makes it possible for people outside their home country to get the medical help they need, including treatments needed for COVID-19, should they become ill or injured while abroad. People can even purchase insurance while they’re in a foreign country.

20. Wanderlog

• Founder(s): Harry Yu, Peter Xu
• Funding: Seed, $1.7 Million
• Investors Include: Y Combinator , Abstract Ventures, General Catalyst

Wanderlog is a free travel app that makes it possible for travelers to build and map their vacations. Designed for trips of all kinds, including the open road, it’s a way for people to keep all of their details organized so they know where they are, what they’re doing, and where they’re going at all times. Drive times, reviews, and reservations can all be tracked in one handy place, making it less likely that something will go wrong along the way.

• Founder(s): Oskar Bruening, Ruzwana Bashir
• Funding: Series C, $119.9 Million
• Investors Include : Eric Schmidt, 12 BF Global Ventures, Cathay Innovation, et al.

Peek helps tourism businesses book more people by offering handy software to take payments, market their services, and manage reviews. So far, the company has powered more than $1 billion in experiences (e.g., paddleboards, pottery classes, rafting, etc.). Their customers love the easy-to-use platform that makes it possible to both generate and track business.

• Location: New York, New York
• Founder(s): Anthony Menna, Greg Ramey, Mike Petrakis
• Funding:  Series A, $17 Million
• Investors Include:  Pritzker Group Venture Capital, Corazon Capital, Alumni Ventures

Batch  is designed specifically for bachelor or bachelorette parties. It helps the core planner track the details of the trip, so everyone can have a smooth experience. Trying to coordinate anything on a group trip like this can be an exercise in futility, but the app accounts for any number of scenarios, making it possible for people to have more fun before, during, and after the trip.

• Location: San Diego, California
• Founder(s): Breanne Acio, Jessica Shisler
• Founded In: 2020
• Funding: Seed, $3.1 million
• Investors Include: Crescent Ridge Partners Ventures, Storyteller Overland, Backstage Capital, et al

Sēkr is a mobile platform for outdoor lovers, making it easier, safer, and more communal to plan a trip and dig into the Great Outdoors. The company has more than 50,000 campsites included in its platform, making it the nation’s largest database of free campsites and local events. People can use it to learn more about what they can really expect at each site, and to connect to virtual friends with similar interests.

24. Point.me

• Founder(s): Adam Morvitz, Tiffany Funk
• Funding: Series A, $12 Million
• Investors Include:  Thayer Ventures, RiverPark Ventures, Plug and Play

Next up on our list of top travel startups is Point.me . With so many different types of airline miles and points out there, it can be difficult for travelers to keep track of all their rewards. As a result, they often end up losing out on their benefits, or cashing them in for a fraction of what they’re worth. Point.me scours the internet to find the absolute best deals for travelers who want to get the most from each and every point.

25. AvantStay

• Location:  Los Angeles, California
• Founder(s): Reuben Doetsch, Sean Breuner
• Funding: Private Equity, $686 Million
• Investors Include: Saluda Grade, Bullpen Capital, Capital One Ventures

AvantStay is a booking platform with unique properties that can be used for personal or commercial use alike. These are luxury rentals that feature unique amenities, including stunning interior design for groups. Excellent for family and company retreats or just a fun weekend trip between friends, AvantStay makes it possible for travelers to hammer down accommodation details and organize additional excursions as well (e.g., spa treatments, wine tastings, etc.).

26. Spotnana

• Founder(s): Sarosh Waghmar, Shikhar Agarwal
• Funding: Series B, $116 Million
• Investors Include:  ICONIQ Growth, Durable Capital Partners, Blank Ventures

Spotnana designs software to connect partners, suppliers, and providers, all in service of improving the booking experience for travelers. The idea is to unbundle travel, making it possible for travelers in the future to get anything they need without the hassle. The core values are freedom and trust, reintroducing choice to the traveler so they feel comfortable making any and all of their arrangements online.

27. Life House

• Founder(s): Rami Zeidan, Yury Yakubchyk
• Funding: Series C, $230 Million
• Investors Include: Tiger Global Management, Sound Ventures, Global Founders Capital

Life House is a vertically integrated operating system built for boutique hotels. It specifically supports three functions: hotel technology for operators, hotel management for owners, and hotel branding and positioning. With Life House’s powerful software, boutique hotels gain a suite of tools that can help streamline processes and increase their profitability.

28. Kindred

• Founder(s): Tasneem Amina, Justine Palefsky
• Founded In: 2021
• Funding: Series A, $22.8 Million
• Investors Include: Andreessen Horowitz, New Enterprise Associates, Bessemer Venture Partners

Kindred is a home-swap platform that connects travelers with other members to trade spaces or travel with credits they can earn by using the platform. With Kindred, hosts receive complimentary hosting essentials like towels, sheets, and lockboxes as well as free professional cleaning before and after guest stays. 

29. Hotelverse

• Location: Mallorca, Spain
• Founder(s): Rafael Bover, Fermin Carmona
• Funding: Seed, $3.92 Million
• Investors Include: Sabadell Venture Capital, Plug and Play

Hotelverse leverages technology to create an innovative booking experience for travelers. On the platform, users can explore hotel facilities, customize their room, do a flyover of their hotel, and book a room — all virtually using a realistic, 3D model. 

• Location: Vancouver, Canada  
• Founder(s): Connor J. Wilson 
• Founded In: 2020 
• Funding: Angel Investment, CA$1.1 Million

Pilot is a travel planning platform powered by artificial intelligence (AI). Using its free app, travelers can plan and collaborate with friends on trips by creating itineraries, planning routes, importing travel documents, and obtaining travel visas — all on one platform. Plus, the app works both online and offline thereby ensuring travelers can access important travel information at any time. 

What are travel startups?

Travel startups today are largely companies that lean on innovation to get noticed in a saturated landscape. Because we’re more reliant than ever on our devices, many of the companies on this list have tech that will drive tourism across the globe.

Whether by reducing carbon emissions, offering health insurance by phone, or making it easier to split costs, travel startups are tackling the small and big issues that stop travelers from fully committing to a trip.

What does the future of the travel industry look like?

The future of the tourism industry will be controlled by everything from global emissions to public health. However, based on the most popular startups today, one of the major trends is based on how people book their travel and how the details are managed. Travel is likely to become more customizable, more affordable, and less damaging to the environment.

What are some travel startup ideas?

Travel startup ideas are often born from personal experiences that people have with their own bookings. So maybe you have a difficult time scheduling a trip on a regular weekend. This leads to an idea that helps vacationers travel without having to take vacation time from work.

Or maybe you take your inspiration from global headlines. If gas prices rise drastically in your area, you can start an app that helps people take a staycation they’ll never forget.

How do you start a travel startup?

Beginning a travel startup will mean sketching out a business model with details about how you’ll monetize your idea and how much capital you’ll need to get started. You’ll need to know what kind of staff you’ll need, how much you can pay them, and what kind of collaboration will be needed to hit your milestones. From there, you’ll likely need to approach investors and secure funding.

The TRUiC Team

TRUiC’s team of researchers, writers, and editors dedicate hours to ensure startupsavant.com’s articles are actionable and accessible for both startup founders and startup enthusiasts. From launching a startup to growing your venture, you can trust that our information is an up-to-date and reliable source.

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Further Reading

• What Is a Startup? July 2, 2024
• 80 Best Startup Ideas to Make Money in 2024 September 10, 2024
• How to Start a Startup in 10 Steps (2024 Guide) August 29, 2024

Topics to Explore

• Startup Ideas
• Startup Basics
• Startup Leadership
• Startup Marketing
• Startup Funding

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How to Start a Business Travel Consultancy

If thoughts of long journeys and exploration excite you, perhaps you'd like to become a business travel consultant. Businesspeople often travel great distances, and it's rarely a simple process. In addition to reserving hotel rooms and rental cars, they have to purchase airline, bus, or train tickets. It can take many hours to compare all of the options. They typically need to arrive on time for important events, so it's crucial to have carefully planned itineraries. 

An expert can ensure everything goes smoothly and arrange trips more efficiently. Consultants usually offer greater customization than the average travel agent.

Ready to turn your business idea into a reality? We recommend forming an LLC as it is the most affordable way to protect your personal assets. You can do this yourself or with our trusted partner for a small fee. Northwest ($29 + State Fees) DIY: How to Start an LLC

Start a business travel consultancy by following these 10 steps:

• Plan your Business Travel Consultancy
• Form your Business Travel Consultancy into a Legal Entity
• Register your Business Travel Consultancy for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Business Travel Consultancy
• Get the Necessary Permits & Licenses for your Business Travel Consultancy
• Get Business Travel Consultancy Insurance
• Define your Business Travel Consultancy Brand
• Create your Business Travel Consultancy Website
• Set up your Business Phone System

We have put together this simple guide to starting your business travel consultancy. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is very important. Read our detailed guide on how to name your business . We recommend checking if the business name you choose is available as a web domain and securing it early so no one else can take it.

Find a Domain Now

Powered by godaddy.com, what are the costs involved in opening a business travel consultancy.

You can work at home, so startup expenses largely depend on whether or not you already have a home office. Consultants spend many hours using computers and phones; an ergonomic chair and desk are essential. Quality new furniture will probably cost at least $300. You ought to have the equipment necessary to print, copy, and fax documents. Some travel-oriented decorations might help inspire you. Think about adorning the walls with scenic photos, maps, or clocks that show the current times in different cities.

What are the ongoing expenses for a business travel consultancy?

You'll need to pay for office supplies, promotional campaigns, and electricity. Dependable internet and phone service also hold importance. It's helpful to stay informed about the hospitality industry; consider buying a Lonely Planet membership or subscribing to a magazine like Travel + Leisure. This costs around $30 to $40 per year. You can obtain travel management software for less than $10 a month.

There's always a chance that a mistake could lead to serious problems and trigger losses for a business. To minimize the financial risks, obtain professional liability insurance with errors and omissions coverage. The premiums add up to about $400 annually.

Who is the target market?

You'll serve organizations with staff members who attend conferences, exhibitions, grand openings, and other events. Executives may want to visit properties before buying or renting them. Relatively high-end clients can afford consultants.

How does a business travel consultancy make money?

Clients pay fees to compensate you for the expertise and effort involved in arranging trips. Business travel occurs throughout the year but peaks in the autumn.

Fees differ based upon the complexity of a trip. You could charge $30 just to book a room that the client will reach by car. On the other hand, a traveler might pay you $200 to plan a long journey involving multiple flights, hotels, and vehicle rentals. Keep in mind that remote business travel consultants generally earn $34,000 to $122,000 per year, according to ZipRecruiter .

How much profit can a business travel consultancy make?

Compared to other entrepreneurs, these professionals have comparatively low expenses but find it somewhat hard to gain clients. Customers have many options, such as in-house travel planners, agencies, and self-serve bookings. This limits how much you can charge. Business-oriented agencies attain profit margins of around 7%. The greater personalization offered by consultants may yield somewhat higher margins.

How can you make your business more profitable?

You'll probably qualify for home office tax deductions as long as you don't become an employee. Reevaluate your phone service; consider switching providers or calling plans in an effort to minimize the per-minute cost of international and out-of-state calls.

• Prioritize referrals rather than costly media or search engine advertising.
• Reduce your printing costs by using a monochrome laser printer for most purposes.
• Selling travel insurance is often quite lucrative and adds valuable protection.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

One crucial aspect that cannot be overlooked when starting your business travel consultancy is the importance of establishing a solid business foundation. While sole proprietorships and partnerships are the most common entity types for small businesses, they're a far less stable and advantageous option than LLCs.

This is because unincorporated business structures (i.e., sole proprietorships and partnerships) expose you as an owner to personal liability for your business's debts and legal actions, while LLCs protect you by keeping your personal assets separate from your business's liabilities.

In practice, this means that if your business travel consultancy were to face a lawsuit or incur any debts, your savings, home, and other personal assets could not be used to cover these costs. On top of this, forming your business as an LLC also helps it to appear more legitimate and trustworthy.

More than 84% of our readers opt to collaborate with a professional LLC formation service to kickstart their venture. We've negotiated a tailored discount for our readers, bringing the total down to just $29.

Form Your LLC Now

Note: If you're interested in more information before getting started, we recommend having a look at our state-specific How to Start an LLC guide (DIY) or our in-depth Best LLC Services review (for those opting for a professional service).

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a business travel consultancy

Utilize highly targeted advertising; contact companies in sectors that regularly engage in long-distance travel, such as banking, insurance, and manufacturing. You may have better luck with new firms that don't already have consultants or agents. Send sales letters to executives, and advertise in business-oriented publications. You could also write a blog about relevant travel destinations. Promote your service at events and places frequented by commercial travelers, such as trade shows. Engage in business networking and think about rewarding clients for referrals.

How to keep customers coming back

You can appeal to new clients by highlighting the value of a well-planned trip; businesses save time and spend money efficiently. Experienced consultants reduce labor costs by developing optimal itineraries much more quickly than the average staff member.

Don't forget to point out specific added benefits that clients gain by using your services, such as special upgrades and bonuses. To retain customers, deliver comprehensive solutions by considering every detail. Recommend the best taxi or restaurant in a certain locale. Supply travelers with all of the information they should know about the trip and destination. Reward loyal clients with retail or dining gift cards. These actions will encourage them to recommend you when they discuss travel with fellow businesspeople.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

This occupation may suit someone who pays close attention to details and has a knack for finding low prices without compromising quality. In-depth knowledge about the hospitality and transportation industries will prove useful. Hotels and other businesses might reward you with free or discounted services, so this business appeals to people who enjoy traveling. You should communicate in an efficient, clear, and friendly manner. Consultants have flexible schedules but may need to work irregular hours.

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What happens during a typical day at a business travel consultancy?

You can expect to spend many hours conducting research, communicating with clients, and setting up itineraries. Customers want you to choose and purchase services for them. Among other things, you'll have to select flights and book rooms. Keep work-related needs in mind; pick hotels with business centers and suitable internet access. Clients may ask for assistance during their trips if problems arise. You can negotiate with service providers to find fair solutions.

What are some skills and experiences that will help you build a successful business travel consultancy?

Ideally, consultants are excellent researchers who have traveled to faraway destinations. It helps if you can speak a major foreign language like French, Portuguese, Spanish, or Chinese. This profession doesn't require any specific credentials, but you'll find it easier to attract clients with a two-year tourism or travel degree . Computer expertise holds considerable value as well.

What is the growth potential for a business travel consultancy?

While the COVID-19 pandemic recently forced many companies to cancel trips, Statista reports that global spending on commercial travel increased by over 200% between 2000 and 2019. If you decide to expand a profitable firm, you could create an agency with multiple consultants. Another option is to develop a franchise. For example, a UK company known as Travel Counsellors offers a franchising opportunity that includes training, support, bonding, and supplies.

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Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

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Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting a business travel consultancy?

Take notes on each client's habits and priorities so that they don't have to remind you. For instance, one traveler might enjoy trying new eateries each day while another prefers a convenient hotel restaurant.

Try to use the same services for multiple clients. If you send numerous travelers to a specific hotel chain or airline, it might provide your customers with free upgrades. Sometimes you can trigger bonuses by using the right technique, such as entering a promo code or booking rooms on a certain website.

Always consider the total expense. Clients won't save cash by staying at a slightly less expensive motel if it costs more to travel there. At times, it's worth staying an extra night to pay significantly lower airfare the next day. Early booking can also cut expenses.

Don't let a service provider's incentives distort your judgment. The client's interests should always come first. To create the optimal experience, strive to minimize waiting times, traffic, and crowds. Remember that companies are responsible for employee safety; avoid potentially risky routes.

How and when to build a team

You don't really need any employees to run this business. Nonetheless, you could hire a secretary or virtual assistant if you develop a profitable consultancy and need help answering phone calls or performing research. These individuals frequently earn around $12 to $25 per hour.

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Travel stories, meet 7 travel entrepreneurs modernizing adventure.

• Published October 19, 2018

The advent of social media has arguably made the world feel smaller than ever before. The sights and sounds of our big, beautiful planet can be beamed straight to our screens on demand, and distance is no longer an obstacle for communicating with one another. We don’t have to wonder about the wonders of the world; we can read all about them whenever we like, and see thousands of impressions of them from all different angles. This doesn’t eliminate the necessity or the worth of adventure, though. If anything, seeing what’s out there makes adventure all the more tantalizing — knowing that countless new experiences await is often what pushes us out of the door. These travel entrepreneurs are the very best at reminding us of that. 

Of course, now that we are so awash with options, and somewhat hyper-aware of the places we want to go, we might need a bit of help deciding. When that need arises, we turn to the kinds of people on this list: the modern travel entrepreneurs. Their work enables new experiences and empowers others to take the first step towards new horizons. Whether that means curating informative expeditions or leading photography workshops, these travelers have pursued their passions with the intent of helping others to do the same. The ways they do this are as wide and wonderful as the world itself, which we think deserves some recognition.

Carrie Hartsfield ( @carriemeonmyway )

Venture patagonia.

What she says about her work: “ I started Venture Patagonia with a vision to fuse American hospitality and an authentic Patagonian experience. We do this by hiring local guides who can provide guests with first-hand knowledge of the area and personal stories. It is also very important to me to encourage and support local companies, especially women entrepreneurs.

“Although some people have a clear path laid out in front of them when it comes to their career, the direction I see my life going changes every day. And I have now come to realize that that’s okay. It leaves room for endless opportunities to pursue crazy ideas.”

What we like about her: Carrie bases herself in South America, which allows her to take a very hands-on role in her business. For her, this is only natural, considering her affection for the region and commitment to its preservation, but it’s remarkable for anyone to move to another country and set up a business there in their early 20s, only a year after graduating from university. Her hunger for adventure takes her further afield, though. One look at her personal Instagram demonstrates that a love of the mountains drives her to wherever there are new frontiers, whether that’s the Canadian Rockies or the seabound peaks of Norway’s Lofoten Islands. Her commitment to chasing these adventures is pretty inspirational, earning her a spot on this list.

Maria and Karim Sahai ( @mariasahai )

Full life photo adventures.

What they say about their work: “We are forever in love with traveling, photography, and the fragile powerful beauty of Earth. There is formidable beauty in the nature and wildlife that we bring photography enthusiasts to. Those special places captivated our hearts and completely changed the way we view and experience the world, which is why we work to share them with others.

“Whether we’re on tour in the endlessly beautiful Arctic North of Norway, the astonishing Polar Land of Svalbard, the unspoiled wonders of Greenland, or the southern paradise of New Zealand, our drive and philosophy is to recreate for our guests the same awe-inspiring moments that have never left us. As photographers, we humbly trust that the images we make are ambassadors for the silent power of Nature, and how that force can reconnect us with ourselves.”

What we like about them: Maria and Karim are both versatile and passionate photographers with a keen eye for the unique beauty found in remote locations and among extreme conditions. While other landscape photographers might seek out verdant forestry and sunswept vistas, the artists behind Full Life show us that life and light shine just as brightly in the colder, darker corners of the Earth. The couple’s willingness to seek out beauty where it isn’t easily reached, and to share that enthusiasm with others in their tours and images , is commendable.

Scott Keyes ( @scottscheapflights )

Scott’s cheap flights.

What he says about his work: “There’s a really pernicious myth that frequently makes the rounds on social media: you have to be rich to travel. That idea is as detestable as it is wrong. Sure, you can pay over $1,000 for flights to Europe or Asia, but why? It’s not necessary. We’re currently living in the golden age of cheap flights — airfare to Europe, Asia, and elsewhere has never been cheaper, adjusted for inflation, than it is today. Helping people find those $400 flights to Europe so they can take that vacation or honeymoon they always dreamed of, that’s the happiest part of my day.”

What we like about him: We’ve written about Scott before because of his sheer commitment to his business model. Even though he now employs a full-time staff, he still personally spends hours every day scouring the web for airfare deals to share with his followers. He’s inspired to do so by the stories of successful trips that subscribers send him, which he often shares on his personal Instagram feed. He plays an active role in making adventure more accessible to more people simply by taking initiative, which is a great lesson for an aspiring entrepreneur in any field.

Yulia Denisyuk ( @insearchofperfect )

Nomad + jules.

What she says about her work: “ My approach to business, travel, and life is to act . Many folks have ideas and passions, but they do not act on them out of fear of failure or thinking that the obstacles are far too great. Entrepreneurs don’t plan to oblivion or let the fears get in the way. We act, often starting with the smallest steps, see how the world reacts, and venture farther into the unknown.

“As any intrepid traveler knows, travel is an unpredictable business. Planning is important, but things fluctuate and change as you step foot in a new land. Spending time in 60+ countries has prepared me well for becoming an entrepreneur. Building something from scratch, pivoting often, keeping patience, humility, and sanity are all behaviors I cultivated while traveling.”

What we like about her: Yulia’s work is fueled by the intention to always take the road less traveled , or to at least approach the worn path with a new perspective. Her personal Instagram feed and that of her company feature many familiar scenes, from hot air balloons over Turkey’s Cappadocia or the face of the ancient treasury in Petra, Jordan. But it is the stories behind those images that separate Nomad + Jules from the crowd. After all, few people experience such places at the end of a 10-mile hike from a nearby Bedouin settlement, but this is exactly what the company’s “experiential journeys” offer. For Yulia, fostering intimacy between places and people is the top priority.

Myles Cameron ( @mylesscameron )

En route creations.

What he says about his work: “I’ve always loved having a camera in hand, and being able to capture moments of my life. I never really planned on turning photo and video work into a full-time job, but I quickly realized that if I could support myself off of something I was passionate about, I shouldn’t turn down the opportunity to do so. My motivation to run my business doesn’t just come from the desire to make money, but from the fact that it allows me to continue to do what I love every single day.

“I’m a big believer in growth and continually making forward progress, and traveling is always a great learning experience for me. Whether I’m flying across the world or on a road trip close to home, the constant movement and change in environment forces me to adapt to new situations. I find that whenever I’m lacking motivation, hitting the road is the best way to clear my head, and it always gives me fresh perspectives on how to overcome challenges.”

What we like about his work: Myles has created an aesthetic that makes the phrase “adventure is out there!” play on repeat inside our heads. He is genuinely captivated by the wonders of the Earth, and he shares his enthusiasm for capturing them without being self-aggrandizing. Like any good artist, he is very much in the business of showing, not telling — his dedication to his images ensures that when he’s done with them, they’re so compelling that you don’t need a frilly caption or much context to be moved and know that there is some serious beauty out in the world waiting to be explored.

Nastasia Yakoub (@ nastasiaspassport )  

Dame traveler.

What she says about her work: “I’ve learned that traveling is more than the pictures we take or the bucket list items we complete. I travel because I want to contribute to making this world a more connected place, one that encourages understanding, open mindedness, and curiosity. I want to inspire women around the world to seek new lands, meet new faces, and learn from cultures unlike their own. Empowering women to travel gives my business more meaning than any collection of stamps in my passport could. In terms of my business philosophy, I’ve found that it’s incredibly important to never compromise my own ethics or values just to get ahead.”

What we like about her: What’s not to like? Social media, the travel community, and the world at large could always use more people like Nastasia — people who understand that their circumstances don’t define them and could never prevent them from empowering themselves and others. Her personal and professional Instagram feeds are comprised of remarkable images of female travelers seamlessly becoming one with their surroundings. She and the Dame Traveler community are more inspiring examples of how it’s always possible to meet the goals one sets for oneself with a little bit of determination.

Alexander Ladanivskiy ( @ladanivskyy )

His business as a private travel organizer sees him take small groups of curious adventurers to popular destinations — such as Iceland, Norway, and Jordan — in a somewhat offbeat manner. The most unique aspect of his model is that those who book trips are not given the exact itineraries or routes of their journeys. They simply pick a destination, and he does the work from there. The inherent sense of adventure in this approach is the most crucial aspect of travel for Alexander.

What he says about his work: “The strongest emotions come from what is unknown in life, and motion through the unknown is what creates experiences that will be remembered. Motion is life. This is the philosophy that guides both my personal life and my business. Do not sit still. Travel, and discover new places for yourself, because the planet is incredibly beautiful. ”

What we like about him: Although many of the scenes on Alexander’s Instagram should seem cold and remote, his technique instills them with a sense of warmth that makes his feed truly captivating. This approach to photography is incredibly versatile, which informs his business model. His impressive ability to adapt to the aesthetic demands of the lifestyle, event, and travel industries make him the perfect modern entrepreneur, who now more than ever needs to be a jack-of-all-trades.

Did we miss any of your favorite profiles? If you follow any other professional trailblazers, let us know in the comments below!

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Travel Tourism Company Pays More Than $2 Million To Resolve Civil Claims Regarding Funds Obtained Under The Paycheck Protection Program

Tampa, FL – United States Attorney Roger B. Handberg announces that Miles Partnership, LLC (Miles), a travel and tourism consulting company headquartered in Sarasota, Florida, has agreed to a civil settlement of $2,281,950 to resolve allegations that Miles improperly obtained and received forgiveness of a loan under the Paycheck Protection Program (PPP).

Congress created the PPP in March 2020 as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide emergency loans to small businesses suffering economic hardship due to the COVID-19 pandemic. The CARES Act authorized these businesses to seek forgiveness of the loans if they spent the loan funds on eligible expenses. When applying for PPP loans, borrowers were required to certify the truthfulness and accuracy of all information provided in their loan applications. The PPP was administered by the U.S. Small Business Administration (SBA). Under the PPP rules and regulations then in effect, companies that were required to file a registration statement under the Foreign Agents Registration Act (FARA) were not eligible for a PPP loan. 

GNGH2, Inc. filed a qui tam complaint in the Middle District of Florida alleging that Miles improperly obtained a second draw PPP loan for $2 million. According to the allegations in the complaint, Miles was required to file a registration statement under FARA due to its work with various foreign tourism boards. The United States investigated GNGH2’s allegations with the cooperation of Miles. The civil settlement will conclude the lawsuit filed by GNGH2 and GNGH2 will receive $207,450 as a share in the recovery.

“The United States Attorney’s Office is committed to investigating and holding responsible those applicants who improperly obtained loans under the PPP program,” said U.S. Attorney Roger B. Handberg for the Middle District of Florida. “We will continue to seek civil redress and, where appropriate, criminally prosecute those individuals and entities that obtained PPP loans to which they were not entitled.”

SBA’s General Counsel Therese Meers stated, “The favorable settlement in this case is the product of enhanced efforts by federal agencies such as the Small Business Administration working with the U.S. Attorney’s Office, other federal law enforcement agencies, as well as private individuals who uncover borrower misconduct to recover the lending program’s damages as well as penalties.”

The investigation was handled by Assistant U.S. Attorney Christopher J. Emden, with assistance from the Small Business Administration - Office of General Counsel. 

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The task force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

Tips and complaints from all sources about potential fraud affecting COVID-19 government relief programs can be reported by visiting the webpage of the Civil Division’s Fraud Section, which can be found here. Anyone with information about allegations of attempted fraud involving COVID-19 can also report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

The claims resolved by the settlement are allegations only and there has been no determination of liability.

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